Site Value

Plain-English definition. Site value is a statutory valuation used by some Australian jurisdictions for land tax and other government charges. It is not the property's sale price, a bank valuation or an estimate of what the whole property would sell for.

How it is used. Victoria and South Australia use site value for ordinary land tax. New South Wales generally uses the term land value. Queensland uses site value for non-rural land and unimproved value for rural land. The ACT uses average unimproved value for its land tax calculation. The label and valuation method therefore need to match the jurisdiction before a number is entered into a land tax calculator.

Victoria describes site value as the value of the land assuming it is vacant and without buildings. Capital improved value is the assessed value of the land and improvements together. South Australia's definition also excludes structural improvements, but its Valuer-General says certain site works, including draining, filling, retaining walls and levelling, can remain part of site value.

Worked example. A Victorian investment property might have:

• a site value of $520,000;
• a capital improved value of $880,000; and
• an estimated sale price of $910,000.

The ordinary Victorian land tax calculation starts with the relevant site value, not the $880,000 capital improved value or the $910,000 sale estimate. If the owner has other taxable Victorian land, the applicable site values may be aggregated before the rate scale is applied.

Use the Land Tax by State tool to choose the correct state calculator. Copy the statutory value from the current valuation or assessment notice rather than estimating it from the property's market price.

Common mistakes.

• Entering the purchase price because it is the easiest number to find.
• Treating site value and capital improved value as interchangeable.
• Using one property's value while overlooking aggregated holdings.
• Assuming a recent renovation must increase site value by the renovation cost.
• Reusing a valuation from an old notice without checking the valuation date.

Checks and objections. The revenue authority usually calculates tax from a valuation supplied by the jurisdiction's valuation authority. If the land description, valuation or ownership details appear wrong, follow the objection instructions and deadline on the notice. An online calculator cannot change an official value or determine whether an objection will succeed.

Sources. Valuer-General Victoria: valuations for rates and land tax, updated 7 July 2026; RevenueSA: site value; South Australian Office of the Valuer-General: site and capital values; and Queensland Land Valuation Act 2010. Checked 26 July 2026.

General information only. Statutory values, aggregation, exemptions and objection rights vary. Check the current notice and the relevant authority before relying on an estimate.

Last updated: 26 July 2026.