Land tax is a tax paid to the State Revenue Office on investment properties. You do not have to pay land tax if you live in the property. However, if you are a purchaser who intends to live in the property, and the person who owned it before you owned it as an investment property, you will be required to pay the vendor’s land tax from the time you take over ownership of the property, to the end of the calendar year of your settlement if the land value of your property is over the threshold set by the State Revenue Office (https://www.sro.vic.gov.au/landtaxrate).  This feels like a significant injustice to many of our clients who are buying a property as their home,  however it will be a one-off payment that will not be applicable again, so long as you are living in the property.