Has anyone received their land tax bill with a huge increase compared to last year?
Silly me was expecting a decrease since land values have gone down
Since it’s a 3 year average a similar % increases will be seen for the next 2 years.
Looks like the govt NSW “free”stationary vouchers weren’t free after all. Maybe free money for officeworks.
Wonder if requesting a review which would involve using the services of a valuer be worthwhile?
@Peanut money: Says the guy having a sook about land tax.
Move on the property and get a better yield
Where have these land prices gone down? My last three rates assessments have the values up 11%, 17% and the latest 35%
Did you try to contest the land validation?
No. This was the whole point of my post. A lot of the replies from all these armchair experts/haters have been anything but helpful.
Not sure why people that don’t even understand a tax feel like they need to share their worthless opinion
So did your land valuation go up and you let it be?. Then now you got your land tax bill?
I haven’t let it be. Iv got 60 days to contest it.
Valuation and land tax bill come at the same time
@Peanut money: Ah ok. Yeah good.
Do you know how you're going to contest it? I've seen the form and it's basically just "write back why you think different"
I feel like there's gotta be a good template out there to increase the chances of winning
@Odin: You need to send a proper valuation to support your claim. At a cost of $800 which is tax deductible
Looks like it might a yearly exercise.
No.
Not the sharpest tool in the shed are you 😉
You’re also an armchair whiner about your circumstances that other people face, and choose to be defensive against someone who disagrees with you. Not all of your comments on ozbargain are helpful too.
So grow up, contest the review already, move to another place and move on.
I don’t pay land tax, just one home. But I was surprised when I got my land valuation recently. It’s gone up approx 50% since last year.
My land is at a value about $300,000 higher than I’d get if I sold the house, based on recent comparable sales in the same street. Mental.
If I was paying land tax I’d definitely be disputing the figure when it’s much higher than the house can be sold for.
This guy gets it
You're paying rates on that increased figure. It's probably worth disputing
How much is the tax now, and how much is the land valued at?
I think you need to get some perspective. It seems to me that all you’re focusing on is the 40% increase in land tax and you’re completely ignoring the amount your land is now worth. As mentioned, you can confirm if the valuation is accurate.
If it is, the coping strategy for you is to realise in your brain “shit, my investment is actually worth a lot more now, so it makes sense the fees associated with it are higher.” If you can’t afford the land tax because your cashflow management sucks and you’re living rent payment to rent payment then you need to learn how to manage it better.
I’m not going to share my personal worth so this woke crowd can tear me down due to their life regrets
I’m can definitely afford it but not happy since I’m coffing up states budget to compensate their cost to buy votes for people like you
Eg free movie tickets
Well what’s the land tax as a percentage of the land value then? 0.5%? 1%?
I’m can definitely afford it but not happy since I’m coffing up states budget to compensate their cost to buy votes for people like you
LMAO!! Whatever you say hahahaha.
Free movie tickets? Wtf are you on about lol. The NSW gov was the one giving out Dine and Discover vouchers that could also be used on movie tickets you realise that right? Lmao….
🤦♂️
free movie tickets
And parent vouchers?
Got to love complaining about government based schemes wasting your massive tax budget contributions, while also happily using them(or abusing them as I don't think buying unused ones is part of their uses)
Definitely a cliche landlord right there :)
Why wouldn’t you use them if they are there?. Me not using them would be shooting myself in the foot
If I had the choice I’d rather lose out on few hundred bucks in govt voucher then lose out $1000s in extra taxes
Good news - land value successfully adjusted after dispute. Not as much as I was hoping but quite a significant decrease
Another bad day for the haters
You should request a review. At the very least it sends the message to the govt you are unhappy about it and they will need to respond by engaging a valuer to confirm or agree with your view. If they want more money, make them work for it.
You were very lucky Peanut Money. I have objected two years running and been rejected twice. They even increased value by $500k so next year's will be a doozy.
What were the reasons for your objections? I was fine with all previous years. It’s was only this years that I had an issue and my points were all valid reasons to why value was too high
So good
https://www.dailytelegraph.com.au/news/nsw/nsw-land-values-d…
Another bad day for the haters
@Ghost47: 100%
These ‘investors’ who think that everyone should bend over to make their property a money machine.
They seemed to have skipped the class where an investment carries risk.