The rates shown below apply for the 2024–2033 land tax years.
Land tax is calculated using the site values (determined by the Valuer-General Victoria) of all taxable land you owned as at midnight on 31 December of the year preceding the year of assessment.
| Land tax general rates (from 2024 land tax year) | |
| Total taxable value of landholdings | Land tax payable |
| < $50,000 | Nil |
| $50,000 to < $100,000 | $500 |
| $100,000 to < $300,000 | $975 |
| $300,000 to < $600,000 | $1350 plus 0.3% of amount > $300,000 |
| $600,000 to < $1,000,000 | $2250 plus 0.6% of amount > $600,000 |
| $1,000,000 to < $1,800,000 | $4650 plus 0.9% of amount > $1,000,000 |
| $1,800,000 to < $3,000,000 | $11,850 plus 1.65% of amount > $1,800,000 |
| $3,000,000 and over | $31,650 plus 2.65% of amount > $3,000,000 |