Owner-occupied residential properties are taxed as follows from 1 January 2024 to 31 December 2024 based on their annual value:
- First $8,000: 0%
- Next $22,000: 4%
- Next $10,000: 6%
- Next $15,000: 10%
- Next $15,000: 14%
- Next $15,000: 20%
- Next $15,000: 26%
- Above $100,000: 32%