There are 2 separate scales, one for individuals (other than trustees or absentees) and one for companies, trustees and absentees.
Exemptions and deductions may be available.
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Land tax is assessed on a sliding scale.
Individuals
Rates for individuals (other than absentees, companies or trusts)
| Taxable value | Rate of tax |
| $0–$599,999 | $0 |
| $600,000–$999,999 | $500 plus 1 cent for each $ more than $600,000 |
| $1,000,000–$2,999,999 | $4,500 plus 1.65 cents for each $ more than $1,000,000 |
| $3,000,000–$4,999,999 | $37,500 plus 1.25 cents for each $ more than $3,000,000 |
| $5,000,000 and over | $62,500 plus 1.75 cents for each $ more than $5,000,000 |
Examples
1. Taxable value of $680,000
Tax band is $600,000–$999,999
Tax calculation = $500 + (1 cent x $80,000 excess)
= $500 + $800
Tax payable = $1,300
2. Taxable value of $6,400,000
Tax band is $5,000,000 and over
Tax calculation = $62,500 + (1.75 cents x $1,400,000 excess)
= $62,500 + $24,500
Tax payable = $87,000
Companies, trustees, absentees
Rates for companies, trustees and absentees
| Taxable value | Rate of tax |
| $0–$349,999 | $0 |
| $350,000–$2,249,999 | $1,450 plus 1.7 cents for each $ more than $350,000 |
| $2,250,000–$4,999,999 | $33,750 plus 1.5 cents for each $ more than $2,250,000 |
| $5,000,000 and over | $75,000 plus 2.0 cents for each $ more than $5,000,000 |
Examples
1. Taxable value of $680,000
Tax band is $350,000–$2,249,999
Tax calculation = $1,450 + (1.7 cents x $330,000 excess)
= $1,450 + $5,610
Tax payable = $7,060
2. Taxable value of $6,400,000
Tax band is $5,000,000 and over
Tax calculation = $75,000 + (2.0 cents x $1,400,000 excess)
= $75,000 + $28,000
Tax payable = $103,000