THIS IS A REMINDER to Review your Assessments and Object before the 60-Day Deadline expires very soon.
As you may well be aware, the State Revenue Office is currently issuing 2017 Land Tax assessments for Victorian landholdings owned as at midnight on 31 December 2016.
These land tax assessments are based on local council valuations as at 1 January 2016 and from our preliminary review of a number of assessments, site values have increased substantially between the 2014 and 2016 revaluation dates. This has obviously led to significantly higher land tax assessments for landowners.
If you are wanting to object to these assessments, you must do so within 60 days of receipt of the assessment and generally, no extensions to this date are possible.
Each year, HWL Ebsworth prepare a number of objections to land tax assessments and also prepare applications to VCAT where the SRO disallows objections which are made. We also have relationships with leading valuers who specialise in land tax objections.
Bottom Line: Please contact me if you would like some help with this process … to ensure your objection is prepared properly, with the best chances of success — as the potential savings across your property portfolio could be substantial.
Disclaimer: If you think a similar situation may apply to you, then you should contact us for detailed legal advice relating to the particular facts and circumstances of your property or lease agreement. This article is not intended to provide such detailed and specific advice. And, you should not act on the basis of any matter contained in this article without first obtaining more comprehensive professional advice.