There is an article in The Age called Pressure to Slash Land Tax. It claims that land tax is too high and there is pressure to cut it, especially now when property prices are starting to fall.
On the State Revenue Office website there is a website that lists the 2009 land tax rates. Land tax is not a fixed amount you pay all the time. The amount you pay on land tax depends on the value of your property. If your property goes up in value, you pay more. If your property goes down in value, you pay less. Hence the requirement to slash land tax simply because property prices are falling makes little sense because land tax goes down as property prices fall.