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Can anyone confirm that the sum of land tax values for all units within an apartment block are greater than that of the actual land that the block occupies? ie. if a house were to be built on the same block of land would it attract the same land tax? What I am really driving at is if the Govt is charging for vertical airspace.
Joe
NSW OSR land tax is based on the land value. Unlike other states NSW uses their own dept values rather than the VG, (which many councils uses to base their rates). And as of 1/1/05 all land, (except PPR & farming) will be subject to land tax…. Guess somebody has to pay for Sydneys transport solution.
Regards
Tony
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