Queensland’s rural areas see confidence in land values
Valuation notices outlining updated land valuations have today been issued for 16,970 properties throughout rural Queensland.
Queensland’s Valuer-General Neil Bray said the valuations reflected up to date and current rural land values.
“Confidence in the State’s rural economy has been reflected in an increase in the majority of the State’s rural land values.
“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.
“There were significant increases in rural land sales across the local authorities of Etheridge and Western Downs. The Tara rural market of Western Downs has experienced significant reductions over a number of years due to the impact of the Global Financial Crisis. The market has now rebounded with significant market movements, consistent with similar movements in the neighbouring local government areas of Goondiwindi and Maranoa.
“A market based review of rural valuations within Longreach and Moreton Bay regional councils was also undertaken to improve the consistency of land valuations across different rural locations.
For the 2019 valuation, the local government areas with a large rural component are Burdekin, Cairns, Etheridge, Gympie, Lockyer Valley, Longreach, Moreton Bay, Noosa, North Burnett, Somerset, South Burnett, Sunshine Coast, and Western Downs.
Mr Bray said land valuations are used by councils as a guide to determine what to charge in rates, and for state land tax and state land rental amounts.
“These valuations will become effective 30 June, however I encourage landowners who believe they have additional or new evidence which may alter their new valuation to provide this information through the online objections process via www.qld.gov.au/landvaluation or at the address shown at the top of their valuation notice by 7 May 2019,” Mr Bray said.
“Landowners without internet access can get an objection kit that includes a step-by-step guide by phoning 1300 664 217.
“It is important to note that sales of rural land purchased by resource companies for the purpose of mining or other extractive industries are not used to determine statutory land values of rural land.”
The new land valuation data for 2019 can be accessed online at www.qld.gov.au/landvaluation.
Queensland Globe also gives landowners access to detailed valuation information allowing users to search for a property or pan the map to areas of interest and zoom down to individual property level. Landowners can access the Queensland Globe year round on the Land Valuations website www.qld.gov.au/landvaluation.
A rural sales map for larger rural shires is also available online and at selected locations to assist landowners – allowing landowners to compare their valuations with others in their area.
Hard copies of the valuation list can be viewed at Department of Natural Resources, Mines and Energy business centres and local government offices during normal business hours until 4 June 2019.
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 1/10/2018 ($ millions)||Total value change (%)|
|Brisbane City Council||1/10/2016||74,588,500||74,588,500|
|Burdekin Shire Council||1/10/2015||384,451,600||423,769,900||10.2|
|Cairns Regional Council||1/10/2015||162,081,000||202,808,100||25.1|
|Etheridge Shire Council||1/10/2013||100,887,000||144,807,040||43.5|
|Gympie Regional Council||1/10/2016||491,991,500||589,397,300||19.8|
|Ipswich City Council||1/10/2016||200,572,700||212,194,100||5.8|
|Lockyer Valley Regional Council||1/10/2015||390,695,000||457,874,100||17.2|
|Logan City Council||1/10/2016||126,062,500||132,325,000||5.0|
|Longreach Regional Council||1/10/2013||236,424,700||239,502,600||1.3|
|Moreton Bay Regional Council||1/10/2016||357,048,300||400,803,000||12.3|
|Noosa Shire Council||1/10/2017||61,582,500||64,686,500||5.0|
|North Burnett Regional Council||1/10/2016||574,142,700||671,857,200||17.0|
|Redland City Council||1/10/2015||72,248,600||117,182,900||62.2|
|Somerset Regional Council||1/10/2016||667,903,100||763,059,900||14.3|
|South Burnett Regional Council||1/10/2015||532,653,300||686,983,700||29.0|
|Sunshine Coast Regional Council||1/10/2017||376,202,700||395,300,300||5.1|
|Weipa Town Authority||1/10/2015|
|Western Downs Regional Council||1/10/2016||1,953,595,350||2,773,422,000||42.0|
For further information contact Department of Natural Resources, Mines and Energy Media Services email@example.com
Last updated 6 March 2019