On 17 March, new land valuations were issued by the Valuer-General for 24 local government areas across Queensland.
The Valuer-General says “significant increases in land values” since the last valuation date justify rises in unimproved land values by as much as 301% in some localities.
The valuation amounts are the basis for calculating State land rental, rates and land tax (where applicable) meaning increased values directly affect primary producers.
Landholders who disagree with their new valuation are entitled to lodge an objection.
A valid objection must be in the approved form, include the landholder’s opinion of the current unimproved value of the land and the grounds for objection to the State’s valuation amount.
There are only three grounds on which an objection can be made. Those include that the new unimproved land valuation amount:
- is not supported by sales evidence which references comparable property sales in the areas;
- does not reflect the physical characteristics of the land or constraints on the use of the land e.g. low rainfall, the effect of natural disasters on the productivity of the land or encumbrances; and
- does not reflect that the land has been affected by something else not considered in the valuation.
Valuation objections that are general in nature and unsubstantiated will not be accepted.
Most objections must be lodged by 16 May 2023. However, landholders should confirm the expiry of the objection period with reference to the date of their own valuation notice. Objections can be lodged online through the Department’s website or in paper form.
Thynne & Macartney can assist landholders in providing advice on the objection requirements or preparing and lodging valid objections on behalf of landholders.