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Yes, land tax in Victoria is typically adjusted on a single holding basis at the time of settlement when a property is purchased. When a property is sold, the seller is responsible for any land tax that is due up to the date of settlement on a single holding basis.

Complete objection online Enter your customer number and assessment number, and select whether you are objecting to land tax, vacant residential land tax or windfall gains tax. Complete the declaration. Confirm your name and contact details. Select which property's value you are objecting to. Detail your objection.

2022–23 land tax trust surcharge rates Total taxable value of land holdingsLand tax payable< $25,000Nil$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$2938 plus 0.875% of amount > $600,0003 more rows • Sep 14, 2023

The land you own and occupy as your home is your principal place of residence (PPR) and is exempt from land tax.

This refund may be available if you finished building a new home or a substantial renovation of an existing home before 1 July 2022. If your renovation will be complete on or after 1 July 2022, you should apply for an upfront exemption to land tax.

For example, under the new changes, the land tax payment for the owner of an applicable property with an unimproved land value of $1 million will rise from $2,975 to $4,650. For a $10 million property, the fee will increase from $206,475 to $217,150.