Guide
What "site value" means on your land tax notice
Site value is the value of the land alone, without buildings or other improvements. The Valuer-General Victoria sets it for every property as at 1 January each year, and the State Revenue Office uses it to calculate your land tax.
Site value and capital improved value
- Site value is the land only.
- Capital improved value is the land plus buildings, fences and other improvements.
Land tax uses site value. Vacant residential land tax uses capital improved value.
Where to find yours
- On your land tax assessment, shown as "taxable value" on the statement of lands.
- On your council rates notice.
- In My Land Tax on the State Revenue Office website.
Which date it reflects
Values are set as at 1 January each year, and land tax uses the previous year's valuation. 2026 land tax assessments use values made on 1 January 2025. The number on your notice therefore describes the market more than a year before the bill arrives.
Who decides it
The Valuer-General Victoria, not the State Revenue Office. If you object, the State Revenue Office passes your objection to the Valuer-General.
Sources
- State Revenue Office: site values and land tax
- State Revenue Office: object to the site value of your land
Checked against the sources above on 14 November 2026. 中文版
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