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Wednesday, June 19, 2024

Time to check your land valuations

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By Amanda Camm MP

OVER THE last month, as Whitsunday Regional Council landowners, many of you would have received a land valuation notice from the Queensland Valuer General.

I’m asking all residents to carefully check the notice, as it is important that the valuations reflect true market value.

This data is used by Local and State Governments in formulating rates and land tax amounts.

The valuations should reflect market value as at October 1, 2023, and will come into effect from June 30 this year.

If a landowner doesn’t think their new valuation adequately reflects the current market valuation, they have 60 days to lodge an objection.

The total valuation of all Whitsunday Regional LGA properties rose by 46 per cent, since the last valuation in 2021.

On average, the value for residential land in the Whitsunday Regional LGA rose to $130,000, an increase of 28.7 per cent, and rural residential increased 45.6 per cent, to $170,000 on average.

On average, commercial land valuations are up 61.4 per cent and industrial land valuations are up 43.7 per cent.

Primary production land valuations have risen 59.3 per cent, on average, with some owners reporting valuation increases up 150 per cent.

On average, multi-unit residential land saw the largest rise, up a staggering 75.5 per cent.

If you do not think your new valuation is fair, then you may lodge an objection by May 27, 2024.

There are four categories of objection, and all require sufficient supporting information:

  • Sales evidence that supports a different value (i.e. comparable property sales don’t reflect your valuation)
  • Physical characteristics or constraints on the use of the land support a different value
  • Other issues, which may affect the valuation
  • Deduction for site improvements (DSI) – For land valued using site value only.

Valuation objections can be submitted online via www.qld.gov.au/…/land/title/valuation/objections.

Or through a Notice of Objection Form, which is available from the Department of Natural Resources, Level 1, 44 Nelson Street Mackay or by calling 1300 664 217.

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