Annual land valuations for 2020 released
Queenslanders in 21 of the state’s local government areas have today awoken to new land valuations.
Valuer-General Neil Bray, who is tasked with issuing land valuations to assist in the determination of council rates, state land tax, and rentals for leasehold land, said approximately 825,000 landowners in 21 Queensland local government areas were issued with new land valuations.
"The 21 areas include Banana, Brisbane, Bundaberg, Burke, Cassowary Coast, Cloncurry, Flinders, Fraser Coast, Gold Coast, Goondiwindi, Hinchinbrook, Livingstone, Mackay, McKinlay, Mount Isa, Richmond, Rockhampton, Scenic Rim, Torres, Townsville and Winton," Mr Bray said.
"In the past 12 months, Queensland’s property market has been influenced by a variety of factors with land values in most large urban centres remaining generally static or showing minor changes, falling values in some mining sector towns, and significant increases in a number of farming areas across regional Queensland."
Mr Bray said the generally static residential sector in South East Queensland was indicative of the slight decline in sales volume over the same period.
"The volume of property lodgements recorded with the Registrar of Titles decreased over the first half of the 2019–20 financial year with an average of 2673 daily lodgements—down 2 per cent from the previous financial year" he said.
"Although property sale transfers are down, continued population growth through interstate migration, and low borrowing costs were contributing positively to the property sector in Queensland."
Mr Bray also said residential land values in Brisbane and the Gold Coast were generally static or showing only minor value growth, and there was improvement in some regional coastal locations such as Hervey Bay and Yeppoon.
"Centres supporting the resource sector such as Mount Isa, Moura and Biloela are experiencing a significant reduction in values from previous levels, however land values in Mackay were showing signs of improvement," he said.
"There is continuing optimism within rural property markets this year, even though the majority of the state remains drought declared.
"As in previous years the market is reflecting strong commodity prices within the beef industry and the continued low interest rates environment.
"These factors have led to moderate to significant increases in rural land values throughout the majority of the state."
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.
"Landowners without internet access can get an objection kit that includes a step-by-step guide by phoning 1300 664 217," Mr Bray said.
"It is important to note that some areas of the state have not been re-valued in 2020 due to the market information indicating no major variation in land values since the previous valuation period. Local governments and key industry stakeholders were also consulted.
"In areas where new valuations have not been issued, the most recent annual valuation will remain effective for rating, land tax and state land rental purposes until the next valuation is undertaken."
Queensland Globe 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.
Hard copies of the valuation listing can be viewed at Department of Natural Resources, Mines and Energy business centres and local government offices during normal business hours until close of business on 2 June 2020.
For specific information on the 21 local government areas revalued in 2020, click on the links below.
|Burke||Capricorn Coast||Cassowary Coast|
|Mount Isa||North West||Richmond|
For further information contact Department of Natural Resources, Mines and Energy Media Services email@example.com
Last updated 4 March 2020