Calculate your property tax
You can use the First Home Buyer Choice Calculator to help check your eligibility. You'll receive the comparison of the estimated property tax (for the first year) and transfer (stamp) duty.
What you need
To use the First Home Buyer Choice Calculator, you'll need:
- the property purchase price (or your estimate of the price)
- the address of the property (used to determine the land value) and
- the intended property usage (owner-occupied or investment).
- The First Home Buyer Choice Calculator provides an estimate of property tax payable in the first year of ownership, supposing it is owned for all of the current financial year. The property tax rates will be annually indexed from 2024-25 to ensure property tax remains an affordable option for first home buyers. In addition, the year-to-year growth of individual property tax payments are capped at 4 per cent.
- The choice between paying transfer (stamp) duty or property tax will depend on your individual circumstances. Where appropriate, you may wish to seek independent professional advice on this choice.
Read common questions about the introduction of the First Home Buyer Choice.
Buying or building your first home? Find out about assistance available from the NSW Government and Australian Government for eligible first home buyers.
Prior to announcing the First Home Buyers Choice, the Government ran a public consultation process on options for a property tax. Information about the consultation and supporting research is available here.