New Zealands Land Tax

New Zealand's Land Tax is a government levy on the value of land owned, regardless of whether it is used for income or profit. It aims to encourage productive use of land and reduce speculation. The tax applies to landholders, including individuals and companies, and is calculated based on the land’s unimproved value. Principal residences are generally exempt, while investment properties and vacant land are liable. The rate varies depending on land value and type, with some thresholds and exemptions. This system helps support public services and promotes efficient land use across the country.