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Land tax thresholds and rates

View general and premium thresholds from the past five years and the current rates. Find out if you owe land tax in New South Wales and how much you will pay.

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Threshold freeze

The 2024-2025 State Budget announced a freeze on the general and premium rate thresholds for land tax years after 2024.

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Land tax thresholds and rates are amounts that determine whether you owe land tax and how much you pay.

When the combined land value of all your taxable property in New South Wales (NSW) is:

  • below the general threshold, you do not pay land tax, or
  • above the general threshold, you pay land tax on the land value above the threshold.

The threshold is not applied to the land value of each property individually, but to the combined land value of all property you own.

All land is taxable unless it is eligible for an exemption. Generally, you do not pay land tax on:

Read more about other land tax exemptions and concessions.

Thresholds and trusts

The tax-free threshold does not apply to land owned as part of special or discretionary trusts. Read how trusts are assessed for land tax for more details.

Land tax thresholds

From 1 January 2025 land tax thresholds will be fixed as follows:

  • General threshold: A land value of $1,075,000.
  • Premium threshold: A land value of $6,571,000.

View past thresholds

Historically, the land tax threshold changed every year.

Tax year General threshold Premium threshold
2024 onwards $1,075,000 $6,571,000
2023 $969,000 $5,925,000
2022 $822,000 $5,026,000
2021 $755,000 $4,616,000
2020 $734,000 $4,488,000
2019 $692,000 $4,231,000

Land tax rates

ThresholdLand valueRate
General More than $1,075,000 but less than $6,571,000$100 + 1.6% of the land value above $1,075,000
Premium More than $6,571,000$88,036 + 2% of the land value above $6,571,000

Surcharge land tax

Surcharge land tax has its own rates, and the general and premium land tax thresholds do not apply.

Learn more about surcharge land tax rates.

How ownership types affect thresholds

The way a property is owned can affect how the threshold is applied.

For example, when you own property with others, you can only claim one threshold for land owned together.

If a property is held in certain types of trusts or by related companies, the owner may not qualify for the land tax threshold.

Read types of owners for more details on how thresholds are applied to individual and joint owners, trusts, and companies.

How thresholds and rates are applied to land values

Revenue NSW uses unimproved land values provided annually by the NSW Valuer General.

Unimproved value means the value of the land itself, excluding buildings or other improvements.

Revenue NSW calculates your land tax liability by comparing the 3-year average of your land value against the applicable threshold.

Example of 3-year average

Year Value determined on Your land value
2023 1 July 2022 $1,050,000
2024 1 July 2023 $1,100,000
2025 1 July 2024 $1,150,000

Your average land value for land tax purposes in the 2025 tax year is ($1,050,000 + $1,100,000 + $1,150,000) ÷ 3 = $1,100,000.

When comparing the above average land value against the current land tax threshold, we would calculate your liability as follows:

  • $1,100,000 (average land value) - $1,075,000 (general threshold) = $25,000 (taxable land value).
  • $25,000 x 1.6% + $100 (general land tax rate) = $500 total land tax liability.

Calculate your land tax

Use our Land Tax Calculator to estimate your potential NSW land tax and surcharge land tax.

Learn more about how land tax is calculated.

Video

This video provides a general overview of land tax values, rates and thresholds.

Related information

Need extra help?

If you have a question about land tax contact the land tax team.