Under controversial land tax changes proposed by the Palaszczuk government, NSW investors with Queensland property holdings would pay thousands of dollars in extra charges.
Queensland is seeking the data required to implement the policy, which has previously been described by NSW lawmakers as a blatant tax grab.
Queensland expects the change to rake in $20 million a year from 2023/24 and impact about 10,000 landholders.
Mr Perrottet pledged to block attempts by Queensland to access relevant NSW data.
"This is a tax implemented by a state that impacts the residents of NSW," he told reporters on Monday.
"It is wrong and we are not going to comply with it, so we are not going to provide that information."
Mr Perrottet said the Queensland proposal was not productivity reform, but "poor financial management" that would impact NSW residents, especially retirees, if it proceeded.
"This is a retrospective tax," he said.
"Some of those investors would not have been paying any tax at all because of the way they structured those investments," he said.
Under the proposal, Queensland would reportedly calculate land tax according to the value of a property holder's portfolio in Australia.
The changes would apply to anyone with total property holdings across the country of more than $600,000, The Daily Telegraph reports.
NSW has said it would query the constitutional validity of the reform, which alters current laws in Queensland that only tax land held in the state.
"We're not talking well-off people, here - we're talking retirees, mum and dad investors, who are being penalised by the Queensland government," Mr Perrottet said.
