Queensland’s rural areas see continued confidence in land values
Valuation notices providing updated land valuations have today been issued for 14,879 properties throughout rural Queensland.
Queensland’s Valuer-General Neil Bray said the valuations reflected up to date and current rural land values.
"For this year’s valuation, the local government areas with a large rural component are Banana, Bundaberg, Burke, Cassowary Coast, Cloncurry, Flinders, Fraser Coast, Goondiwindi, Hinchinbrook, Livingstone, Mackay, McKinlay, Mount Isa, Richmond, Rockhampton, Scenic Rim, Townsville and Winton," Mr Bray said.
"These land valuations are used to determine land tax, rental price for leased state land and by local councils to help determine rates.
Throughout the course of the 2020 Valuations process a number of rural factors were identified to have influenced 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, despite the recent prolonged drought conditions
- This increase in rural land values can be attributed to the continued effects of strengthened beef and wool commodity prices and low interest rates, which have generally resulted in increases in Queensland’s rural property markets
- Rural land values have continued to grow on the back of land owners’ expectations that conditions in agriculture have and will continue to improve.
- Increases in rural values have generally occurred throughout the majority of rural areas revalued in 2020.
- A full market based review of rural valuations was undertaken with Winton shire to improve the consistency of land valuations across different rural locations.
- Varying increases in value have also resulted for smaller and lower valued farming properties, after a review and investigation of sales of similar lands.
- There was overall significant increases in rural land sales across local areas of Bundaberg, Fraser Coast, Goondiwindi, Burke, Flinders, McKinlay, Richmond, Mt Isa and Winton.
"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" Mr Bray said.
Mr Bray said landowners who believed their valuation was incorrect, and could provide supporting information, should lodge their objection online or at the address shown at the top of their valuation notice by 5 May 2020.
"For landowners without internet access, an objection kit that includes a step-by-step guide can be sent out by phoning 1300 664 217," he said.
Queensland Globe also gives landowners access to more 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 2 June 2020.
For specific information on rural land values in the 21 local government areas revalued in 2020, click on the link below.
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 ($)||Total value as at 1/10/2019 ($)||Total value change (%)|
|Cassowary Coast Regional||1/10/2016||331,598,300||396,682,900||19.6|
|Fraser Coast Regional||1/10/2017||229,673,700||331,439,100||44.3|
|Gold Coast City||1/10/2017||122,860,300||246,406,200||100.6|
|Mount Isa City||1/10/2015||38,030,310||50,125,400||31.8|
|Scenic Rim Regional||1/10/2017||1,097,680,820||1,218,161,820||11.0|
For further information contact Department of Natural Resources, Mines and Energy Media Services email@example.com
Last updated 4 March 2020