All Topics / Legal & Accounting / Land Tax basic question …

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  • Profile photo of bennidobennido
    Participant
    @bennido
    Join Date: 2004
    Post Count: 195
    March 29, 2006 - 2:31 am

    I have a pretty basic question on how the value of land held is calculated for Land Tax purposes.

    For example,

    I own land A valued at $100,000 under only my name.

    I also own land B valued at $150,000 but under joint names with my partner.

    Is my total land value calculated at …

    (A) $250,000 which makes me eligible to pay Land Tax, or
    (B) $175,000 ($100,000 + $150,000/2)

    Thanks in advance !

    Profile photo of DerekDerek
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    @derek
    Join Date: 2004
    Post Count: 3,544
    March 29, 2006 - 2:50 am

    Which states are the properties in?

    Derek
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    Profile photo of bennidobennido
    Participant
    @bennido
    Join Date: 2004
    Post Count: 195
    March 29, 2006 - 4:31 am

    Doh ! … what an important detail I left out … [upsidedown]

    Both properties are in Victoria … [rolleyesanim]

    Profile photo of TerrywTerryw
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    @terryw
    Join Date: 2001
    Post Count: 16,213
    March 29, 2006 - 4:37 am

    I beleive it is the 2nd answer. Not sure if it varies from state to state.

    Terryw
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