New Zealand Land Tax

New Zealand Land Tax is a property tax levied annually on landholders, calculated based on the value of land they own. It applies primarily to unimproved land values, excluding buildings and improvements, and is intended to encourage efficient land use and reduce speculation. Different rates may apply depending on land use and ownership type, with exemptions for certain categories like primary production or Māori land. The tax is assessed by local councils and helps fund community services, infrastructure, and local government functions. It aims to promote fair landholding practices and support sustainable development.