Basic Vic land tax questions

[Scaramanga]

Hi

I've read the land tax FAQ, but couldn't find answers to my fairly basic questions. The SRO's website was unhelpful.

I own property, it is my PPOR. I have never received a land tax assessment. I have never registered or done anything actively to manage land tax. Would I automatically receive an assessment if land tax was due? Am I supposed to register for land tax, then claim the PPOR exemption?

I am intending to sell the place next year. Do I need to make any statements/representations in the section 32 regarding land tax?

Am I going to get any unwelcome surprises when I try to sell next year?

Cheers,
Scaramanga

 

[buzzlightyear]

Land tax does not apply to your PPOR as outlined on the SRO land tax overview page

If it was an IP however, the tax is assessed on the capital unimproved value of your property. This value can be found on your rates notice. This not the same as the value of your property.

To be liable for land tax, the sum of your capital unimproved value of your property or properties would need to be in excess of $250,000 for you to be liable for any tax. If it is, the SRO is aware of the owner and address of the property and would send you a land tax assessment if you were required to pay land tax. You needn't register.

 

[Scaramanga]

Thanks for this, that's comforting.