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No, each parcel of land has been given a value for land tax purposes based on the particular property. Look at your notices from the Valuer-General. So your house land value might be $200,000 but I might have a property the same area which might be worth $10,000 in western NSW or...

Area is irrelevant. All based on value with exemptions depending on use of land eg PPOR or primary production. To get an idea of your land values http://www.lpi.nsw.gov.au/land_valuation/nsw_land_values if buying in NSW settle after 31st December which is the taxing date