Queensland land valuation notices to be issued today
The Valuer-General has announced that 22 of Queensland’s local government areas will receive an annual valuation for 2018 today.
The local government areas 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.
Land valuation notices may impact upon:
- Local government rating notices;
- State land tax; and
- Rentals for leasehold land.
The relevant local governments may utilise the 2018 land valuation information as part of the calculation of rates. Although land valuations are not the only factor considered in determining rates, they are significant.
Land valuation notices are also used by the Office of State Revenue to calculate State land tax.
The State will also use land valuation notices to calculate leasehold land value for the purpose of state land rentals.
To view the historical trends in land valuation in Queensland, visit the Queensland Government’s land valuations portal.
Affected landowners can lodge an objection to their land valuation notice within 60 days of the date of the notice
This article was written by Peter Bittner, Partner and Thomas Canniffe, Law Graduate.
P: +61 7 3169 4743
Important Disclaimer: The material contained in this publication is of a general nature only and is based on the law as of the date of publication. It is not, nor is intended to be legal advice. If you wish to take any action based on the content of this publication we recommend that you seek professional advice.