Land Tax and Valuations Darrel M c Mahon & Catherine Clarisse - - PowerPoint PPT Presentation
Land Tax and Valuations Darrel M c Mahon & Catherine Clarisse Staff Development and Customer Education Housekeeping You can select Telephone or Mic & Speakers Use the raise hand function to indicate that you are receiving the
Land Tax and Valuations
Darrel McMahon & Catherine Clarisse Staff Development and Customer Education
Mic & Speakers
indicate that you are receiving the audio
into the question pane
Darrel McMahon Customer Education Unit Catherine Clarisse Customer Education Unit
preceding year
(home) and certain primary production land
General Land Tax Rates 2009 - present
Total taxable value of land holdings Land tax payable < $250,000 Nil $250,000 to < $600,000 $275 plus 0.2% of amount > $250,000 $600,000 to < $1,000,000 $975 plus 0.5% of amount > $600,000 $1,000,000 to < $1,800,000 $2,975 plus 0.8% of amount > $1,000,000 $1,800,000 to < $3,000,000 $9,375 plus 1.3% of amount > $1,800,000 ≥ $3,000,000 $24,975 plus 2.25% of amount > $3,000,000
Land Tax Rates for Trusts 2009 - present
Total taxable value of land holdings Land tax payable < $25,000 Nil $25,000 to < $250,000 $82 plus 0.375% of amount > $25,000 $250,000 to < $600,000 $926 plus 0.575% of amount > $250,000 $600,000 to < $1,000,000 $2,938 plus 0.875% of amount > $600,000 $1,000,000 to < $1,800,000 $6,438 plus 1.175% of amount > $1,000,000 $1,800,000 to < $3,000,000 $15,838 plus 0.7614% of amount > $1,800,000 ≥ $3,000,000 $24,975 plus 2.25% of amount > $3,000,000
date or reverts to ‘Total’ due date
Statement of lands owned
Exemptions
PPR & PPL Charitable Purposes Supported Residential Care Facilities Crown Land & Public Statutory Bodies Caravan Parks & Rooming Houses Sporting, Outdoor Cultural Activities
Land tax basics
the Rating Authority – this process is referred to as the General Revaluation.
Municipal Council or the Valuer-General Victoria (VGV).
2015 and 2016 land tax assessments
we receive the data from the VGV in the form of an electronic file, and load the valuation data to our internal system
accordance with their Level and Return Date Supplementary Valuations are also provided each year outside
Revaluation. These are also applied in accordance with the Return Date.
Land tax basics Valuations
The right to object to a valuation is contained within the Valuation of Land Act 1960. An objection can be lodged within 2 months of either of these events:
In order for the objection to be considered, it:
Important: Objections lodged on receipt of land tax assessments are to be sent to the SRO. The SRO then forwards the objection to the Rating Authority (Municipal Council or VGV). The valuer then processes the objection.
Objection is referred to the Valuer, who then considers the
a determination. If the objection is disallowed a notice will be issued to the
then a notice of recommendation is submitted to the VGV with a copy to the objector. The recommendation notice is either confirmed or disallowed by the
confirmed, the amended valuation becomes finalised. Right to appeal. An
right to object to a decision (or deemed decision) made by the Valuer
referring the matter to VCAT.
Land Valuation Objection (Smart Form)
Land tax basics Valuations Objections to valuations
Land tax basics Valuations Objections to valuations Website demonstration
valuations
certified by the Valuer General Victoria
assessments are to be lodged with the SRO – not the Council
be in writing
Authority, who will then contact the objector Important: Land tax remains payable whilst a Valuation Objection is pending.
Land tax basics Valuations Objections to valuations Website demonstration Summary
www.sro.vic.gov.au education@sro.vic.gov.au 132 161