Hi, I’ve been enjoying reading the topics on this forum, and thanks to all the regular contributors for your wealth of knowledge. First time I’ve actually contributed anything but thought this experience was interesting enough to share with others.
I am in the process of selling IP and was advised by solicitor that there is land tax owing. Not possible I said, VG ($311,000 as at 01/07/2002) is under the threshold ($317,000).
When I contacted OSR I was advised they receive a valuation every 12 months (property owners only receive them every 3 years) and our property was now valued at $363,000, therefore a land tax liability. To make matters worse, it was apparently valued at $311,000 PRIOR to the threshold increasing from $261,000 to $317,000 so we are also up for land tax for that year.
Person from OSR advised we can object to this valuation, but to me that is not the problem. The problem is that we were not ADVISED that our property had gone beyond the threshold. He says they have a system in place where property owners are advised but they are a bit behind with the paperwork. 2-3 years behind!!!!!That sucks. They are behind but not that behind that they know to get their money before you sell.
Let us know how it goes.
Torachan
Air goes in and out. Blood goes round and round. Any variation is a bad thing
Eljay,
It stinks, but after personally taking the LTO to court over Land Tax issue which we lost (even though we had all the facts and logic on our side), I wouldn’t hold out much hope. Hope you can get a revaluation.Yo Ho Samwise
Thanks, Torachan and Samwise for your interest. So far we have paid the outstanding land tax so as not to delay settlement, however I feel we should only have to pay the 2004 tax on a pro rata basis, (as is the case with council rates) and will follow up on this. Will let you know.
eljay
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