Landowners across the state with portfolios worth more than $600,000 are liable for land tax,and are sent letters by the state revenue office from August outlining the amount owed.
A Queensland Treasury spokesperson toldBrisbane Times landowners started seeing the letters in the past two weeks,with about 23,000 expected to be sent. Last financial year,the figure was 10,291.
Exemptions exist,such as land on which a person’s usual residence sits,but are not automatic and require approval by the revenue office.
“In line with previous years,approximately 60 per cent of individual landowners receiving a first-time-tax-payer letter this year are expected to be granted a principal place of residence exemption,” the spokesperson said.
“When we identify that land value has reached the $600,000 threshold for the first time,we send a letter that provides information on land tax,available exemptions and how to apply. We also send SMS and email reminders to help them understand what they need to do and the support available.”
The Valuer-General’s Brisbane region data shows the median land value in 34 more of the city’s 180 suburbs has equalled or surpassed the threshhold — with several jumping from below $500,000.