Land tax - subdivision

[serrz]

I currently own a investment property on 1,000sqm in NSW which has a gross land value (for land tax purposes) of $400k.

I am in the process of subdividing this piece of land into to blocks of 500sqm. My question is what will happen to my gross land value? Will each block be $200k? Or will they be assessed to be higher because the land is on separate titles?

Any ideas or personal experience on such a situation?

 

[RPI]

I have seen it
Change the next year dramatically
Not change dramatically
Change dramatically several years later.

The way the valuers work out UCV for rates and land tax in QLD does not make sense to me. Mine have never seemed to have a correlation between market value and rateable value.

D

 

[serrz]

I have seen it
Change the next year dramatically
Not change dramatically
Change dramatically several years later.

The way the valuers work out UCV for rates and land tax in QLD does not make sense to me. Mine have never seemed to have a correlation between market value and rateable value.

D

So when you say it changes dramatically the next year, it is more like $300k / $300k, as opposed to $220k / $220k?

 

[RPI]

Yep. Each split block almost same as the whole block prior.

 

[serrz]

Thanks RPI, thats good news.