You can be exempted from land tax for 2 years if you complete a H2 form within 90 days from the date of completion of the building works. The exemption can be total or partial, depending on, whether or not, the district council where the property is situated, agrees to proceed with the exemption of the district quota of this land tax. If the H2 form is sent back after the 90 days, it is no longer possible to benefit from the exemption. If your property is rented out, and should you have to pay the land tax (totally or partially), you can offset it against your rental profits, and thus your income tax.
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