The Valuer-General of each State or Territory oversees the valuation process for land tax at the beginning of each financial year.
Generally, land tax valuations are undertaken on a mass valuation basis. This means that similar properties in the different districts are grouped. Each group will have a benchmark property that the Valuer-General uses to compare the other properties.
So, it’s not uncommon to find that your tax liability doesn’t accurately reflect the property’s value - there’s a margin for error.
The last thing you want to do is pay too much land tax, so each State or Territory’s Revenue Office allows concerned taxpayers to lodge a land tax objection.
If you think that the valuation you received from the State Revenue Office is too high, you can lodge a land tax objection.
There are a couple of steps you need to follow, which includes:
Land tax objections can end up being a bit of a complicated process, especially when gathering supporting evidence and establishing grounds to object.
So, it can be helpful to have Duo Tax Property Valuers help gather all the relevant information and lodge your application on your behalf within the 60-day cut-off time.
We can advise you on whether there are grounds to object. If there are grounds and it makes sense to lodge an objection, the Duo Tax team of Property Valuers will:
Our mission at Duo Tax has always been to help property investors save money where they can.
If you decide to lodge an objection, you’ll need to provide reasons for the objection to the land tax assessment. Engaging the help of a certified practising valuer will assist with this process.