From 1 January 2018 the land tax threshold has increased to $629,000 and the premium rate threshold has increased to $3,846,000.
The rules for special trusts (that the threshold does not apply), remain the same.
Land tax is not payable on your principal place of residence and exemptions apply to other types of properties, such as primary production land.
To be assessed for land tax you must register with Revenue NSW at www.revenue.nsw.gov.au. Failure to register and to be assessed may result in interest being charged.