Queensland’s rural areas see increase in land values
Confidence in the State’s rural economy has been reflected in an increase in the majority of the State’s primary production land values.
Queensland Valuer-General Neil Bray said that new land valuations issued today echoed the spur in economic activity and a continued level of optimism that surrounded rural land markets during 2017.
“This increase in rural land values can be attributed to the continued effects of strengthened beef prices and low interest rates, which have generally resulted in increases in Queensland’s rural property markets,” Mr Bray said.
“Increases in rural values have generally occurred throughout the majority of areas revalued in 2018.
“There were significant increases in rural land sales across Maranoa, Goondiwindi and Sunshine Coast, Murweh and Douglas shires.
“A review of rural valuations across councils in south west Queensland was also undertaken to improve the consistency of land valuations across different rural locations,” Mr Bray said.
For the 2018 valuation, the local government areas with a large rural component are Banana, Barcoo, Boulia, Bulloo, Central Highlands, Charters Towers, Diamantina, Douglas, Fraser Coast, Gladstone, Goondiwindi, Hinchinbrook, Isaac, Maranoa, Murweh, Paroo, Quilpie, Scenic Rim, Sunshine Coast and Toowoomba.
Landowners who believe their valuation is incorrect can lodge an objection online, via post at the address shown at the top of their valuation, or by phoning 1300 664 217 for an information kit. Objection notices must be submitted by 8 May 2018.
Statutory land valuations are used to establish local government rates, state land and rental tax, and the 2018 valuations can be viewed at www.qld.gov.au/landvaluation
The State valuation list can also be viewed at Department of Natural Resources, Mines and Energy business centres and local government offices during normal business hours until 5 June 2018.
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Table 1: Total values of rural primary production land by local government area
|Local government area||Previous date of valuation||Total value as at previous date of valuation ($ millions)||Total value as at 1/10/2017 ($ millions)||Total value change (%)|