It’s that time of year where land tax assessments issue, so here are a few important points. Did you buy or sell property in 2015? Or change address? Make sure you update your local state tax authority to avoid getting an incorrect assessment. As of 1 January 2016,  the land tax threshold in NSW has increased to $482,000 with the rate of land tax remaining at 1.6%. The premium threshold for NSW has increased to $2,947,000 with the rate staying at 2%.