Land valuations: Check your figures

Qld landholders urged to check new land valuations

Property
ON THE RISE: Queensland landholders are being urged to check new land valuations released by the Valuer-General today.

ON THE RISE: Queensland landholders are being urged to check new land valuations released by the Valuer-General today.

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Queensland landholders are being urged to check new land valuations released by the Valuer-General today.

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LANDHOLDERS are being urged to check new land valuations released today are correct to ensure they don't end up paying unwarranted council rates and leasehold rent.

Queensland's Valuer-General today issued 507,000 valuations in 22 council areas across Queensland. The valuation of some individual properties in the south west have increased by up to 100 per cent.

AgForce rural property valuer John Moore said unimproved values determined what council rates rural landholders paid and were also used to calculate leasehold rents.

Many primary producers are facing their sixth year of drought and can't afford big increases in rent and rates. - John Moore, AgForce

“It's important the figures are right," Mr Moore said.

"Movements in valuations are highly variable, with a 10-30 per cent rise on average across Queensland this year and some individual properties in the Maranoa and Murweh shires increasing by 75-100pc.

"The difficulty in using unimproved value as a basis for land rent and rates is that only a small portion of landholders in a market - the buyers - are setting the value for the rest.

“This is despite the fact that many primary producers living in council areas receiving new valuations are facing their sixth year of drought and can't afford big increases in rent and rates.

"While there is a 10pc per annum cap on leasehold rents, a rise of even that magnitude will be difficult for most primary producers to cop, and we'd urge mayors and rural councillors to manage any rate increases through a range of measures including capping, freezing and adjusting their differential rating."

Mr Moore encouraged rural landholders who receive new valuations to check them using the Land Valuations Globe online and see how they compare to surrounding properties.

Mr Moore said the latest valuation increases highlighted the need for perpetual lessees to consider freeholding their properties before both freeholding and leasehold rents become unaffordable.

The Local Government Areas receiving new valuations this year are: Banana, Barcoo, Boulia, Bulloo, Central Highlands, Charters Towers, Diamantina, Douglas, Fraser Coast, Gladstone, Gold Coast, Goondiwindi, Hinchinbrook, Isaac, Maranoa, Murweh, Noosa, Paroo, Quilpie, Scenic Rim, Sunshine Coast and Toowoomba.

"Landholders need to check their valuations and lodge an objection if necessary so they don't end up paying more than they should," Mr Moore said.

The story Land valuations: Check your figures first appeared on Queensland Country Life.

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