The examples below show how land tax is calculated in each of the tiers using the general rates.
Exceeds $732,000 but not $1,176,000
$0.50 for every $100 or part $100 above $732,000
For this example we are using a total site value of $800,000
Tax on $732,000
Nil
Plus tax on $68,000
Calculated as follows:
- 800,000 – 732,000 = 68,000
- 68,000 / 100 = 680
- 680 x $0.50
$340
2024-25 Tax Estimate
$340
Exceeds $1,176,000 but not $1,711,000
$2,220.00 plus $1.00 for every $100 or part of $100 above $1,176,000
For this example we are using a total site value of $1,400,000
Tax on $1,176,000
$2,220
Plus tax on $224,000
Calculated as follows:
- 1,400,000 – 1,176,000 = 224,000
- 224,000 / 100 = 2,240
- 2,240 x $1.00
$2,240
2024-25 Tax Estimate
$4,460
Exceeds $1,711,000 but not $2,738,000
$7,570.00 plus $2.00 for every $100 or part of $100 above $1,711,000
For this example we are using a total site value of $2,000,000
Tax on $1,711,000
$7,570
Plus tax on $289,000
Calculated as follows:
- 2,000,000 – 1,711,000 = 289,000
- 289,000 / 100 = 2,890
- 2,890 x $2.00
$5,780
2024-25 Tax Estimate
$13,350
Exceeds $2,738,000
$28,110.00 plus $2.40 for every $100 or part of $100 above $2,738,000
For this example we are using a total site value of $3,000,000
Tax on $2,738,000
$28,110
Plus tax on $262,000
Calculated as follows:
- 3,000,000 – 2,738,000 = 262,000
- 262,000 / 100 = 2,620
- 2,620 x $2.40
$6,288
2024-25 Tax Estimate
$34,398