More than one million landowners in 29 of Queensland’s 62 rateable local government areas (LGAs) will receive new land valuations in 2015.
Acting Executive Director, State Valuation Service, Vern DiSalvo said today that the LGAs receiving new valuations were Balonne, Banana, Brisbane, Cairns, Cassowary Coast, Central Highlands, Charters Towers, Gladstone, Gold Coast, Gympie, Hinchinbrook, Ipswich, Isaac, Livingstone, Logan, Mackay, Maranoa, Murweh, Noosa, Paroo, Redland, Rockhampton, Scenic Rim, South Burnett, Southern Downs, Sunshine Coast, Torres, Townsville and Western Downs.
“The decision to value the 29 rateable LGAs follows consultation with local governments, local groups and industry stakeholders and an evaluation of property market survey reports,” he said.
“In LGAs where new valuations are not issued in 2015 the most recent annual valuation will remain effective for rating, land tax and state land rental purposes until the next valuation is undertaken.”
Mr DiSalvo said when undertaking the market surveys, valuers considered property sales since the last annual valuation was made and the predicted movements that this market evidence has had on the value of land.
“Other issues considered include the impact of natural events, the state of the economy, the effects of mining, planning and zoning changes, commodity prices and population growth,” he said.
“It is important to remember that the market survey analysis provides an overview of property market trends throughout Queensland. It is a preliminary assessment of property trends throughout Queensland and may be subject to change as further valuation analysis is undertaken for the annual valuation program.”
Mr DiSalvo said that under the Land Valuation Act 2010 valuation notices have to be issued no later than 31 March in the year in which the annual valuation is to take effect.
“The valuations will be determined as at 1 October 2014, and become effective for rating, land tax and State Land rental (for leasehold land) purposes as at 30 June 2015. Land valuations are just one of the factors taken into account by local councils when they prepare their annual budget and set rates to pay for the services they provide to their community.”
Queensland landowners can now sign up to receive their next land valuation notice electronically by visiting the Department of Natural Resources and Mines website – www.dnrm.qld.gov.au/land/titles-valuations/valuations/change-landowner-details
More information about land valuations is available at www.dnrm.qld.gov.au . Follow Land Queensland on Facebook – facebook.com/LandQueensland and Twitter – twitter.com/LandQueensland .
Media contact: Brad Muir (07) 3199 8253