We are going to get asked the question so we need a spreadsheet.
But of course to do the calculation we need to know the purchase price (to work out the stamp duty), whether it is an owner occupier (higher land tax rates for investment properties), the Unimproved Land Value (ULV), the estimated percentage growth each year of the ULV and the present value discount factor (interest rate).
So for a dodgy $635k shack on land worth $530k with an estimated land increase of 2%pa and a PV discount rate of 4%pa, if you hold the shack for 14 years you pay the same in stamp duty and the PV of all 14 years new annual land tax payments. No one wants to live in a shack like this for 14 years so pay the new land tax and not stamp duty.
Enjoy making a spreadsheet like this one.