Land Tax on Principal residences in NSW
"The law specifies that no land tax is due on someone's main home unless the land is worth more than $1.68 million as of January 1, 2003. But tax is due on weekenders or investment properties if the land is worth $261,000 or more. Tax ris charged at 1.7 per cent a year on the amount above the threshold. In 2001 about 15 per cent of the 1547 objections to land tax assessments related to disputes over principal place of residence."

The principle of land value taxation is sound. Ideally, it should be imposed (preferably at state or local government level) at an ad valorem rate on all sites with no exemptions or thresholds. These only provide opportunity for dispute, evasion, and further erosion of the basic priniple.

Land Tax on Principal residences in NSW
"The law specifies that no land tax is due on someone's main home unless the land is worth more than $1.68 million as of January 1, 2003. But tax is due on weekenders or investment properties if the land is worth $261,000 or more. Tax ris charged at 1.7 per cent a year on the amount above the threshold. In 2001 about 15 per cent of the 1547 objections to land tax assessments related to disputes over principal place of residence."

The principle of land value taxation is sound. Ideally, it should be imposed (preferably at state or local government level) at an ad valorem rate on all sites with no exemptions or thresholds. These only provide opportunity for dispute, evasion, and further erosion of the basic priniple.