Community & Business
12 January, 2023
New land valuations due
TABLELANDS landowners can expect new valuations for their properties in March.
More than 20,000 landowners across the Far North will receive new land valuations, with valuers from the State Valuation Service assessing rural property markets and proper-ties across Queensland late last year.
“The State Valuation Service’s team of almost 140 expert valuers gathered on-the-ground information, as well as undertaking desktop assessments, including research on property sales since the last valuation,” acting Valuer-General Suzanne Stone said.
“Their assessments will see new land valuations issued for properties covering more than 960,000 hectares across Hinchinbrook, the Tablelands and Weipa by 31 March.”
Ms Stone said the State Valuation Service valued a selection of Queensland LGAs each year.
“There has been significant market move-ment especially in rural Queensland and that is a reflection of continued confidence in the rural sector,” she said.
“Land valuations provide independent data that underpins decision-making and allows landowners to monitor the changing value of their land.
“Local governments and the Queensland Revenue Office may use this information as an input to their rating and land tax considerations.”
The acting Valuer-General’s decision to re-value an LGA is based on a number of factors including a detailed property market analysis, the timing since last valuation and the results of consultations with individual local governments and industry stakeholders.
A total of 24 local government areas are being valued with new valuations taking effect from 30 June.
Land valuations will remain unchanged in LGAs that are not revalued.
The acting Valuer-General said a land valuation overview for each LGA would be published online when valuations were issued to landowners.
“These overviews are a useful tool for owners to understand the change in the value of land in their area,” Ms Stone said.
Queensland landowners can sign up to receive their 2023 land valuation notice by email at qld.gov.au/landvaluation.
