Expert insightsFinanceNSW property investors paid $2.39 billion in land tax over 2012-2013 financial year
NSW property investors paid $2.39 billion in land tax over 2012-2013 financial year
Jonathan ChancellorJune 17, 2013
NSW property investors paid $2.39 billion in land tax during the 2012-2013 year.
But this was less, after low valuation growth, than the anticipated $2.55 billion forecast.
"The downward revision to the 2012-13 estimate reflects lower than forecast increases in land values for the 2013 land tax year," the budget papers said.
The current budget anticipates land tax to total $2.52 billion.
The average anticipated growth per annum between 2013 and 2017 is given as 5.7%.
Land tax raises about 11% of the total state government tax revenue.
The NSW lmd tax threshold was $406,000.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.
