Landowners in Boulia Shire will receive new land valuations in March 2018.
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Queensland’s Valuer-General Neil Bray said it was one of 22 of Queensland’s 62 rateable local government areas affected and the only one in North West Queensland.
“The decision to value these LGAs follows consultation with councils, local groups and industry stakeholders and consideration of property market survey reports,” Mr Bray said.
“Valuations are issued annually across the state, except in unusual circumstances or where it is determined there has been insufficient market movement in a local government area to warrant an annual valuation being issued.
“In LGAs where new valuations are not issued in 2018, the most recent annual valuation will remain effective for rating, land tax and state land rental purposes until the next valuation is undertaken.”
Mr Bray said when undertaking the market surveys, valuers considered property sales since the last annual valuation was made and the predicted movements that this market evidence has had on the value of land.
“Other issues considered include the impact of natural events, the state of the economy, the effects of mining, planning and zoning changes, commodity prices and population growth,” Mr Bray said.
“It is important to remember that the market survey analysis provides an overview of property market trends throughout Queensland.
“It is a preliminary assessment of property trends throughout Queensland and may be subject to change as further valuation analysis is undertaken for the annual valuation program.”
Mr Bray said that under the Land Valuation Act 2010 valuation notices have to be issued no later than March 31 in the year in which the annual valuation is to take effect.
“The valuations will be determined as at 1 October 2017, and become effective for rating, land tax and State Land rental (for leasehold land) purposes as at 30 June 2018.
“Landowners should remember that land valuations are just one of the factors taken into account by local councils when they prepare their annual budget and set rates to pay for the services they provide to their community.”
Queensland landowners can now sign up to receive their next land valuation notice and the 2018 Valuer-General’s property market movement report electronically by visiting the Department of Natural Resources and Mines website at www.qld.gov.au/environment/land/title/valuation/change-details.
Derek Barry
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
Editor of the North West Star Mount Isa since January 2016. Prior to that, an editor at several regional southern Queensland newspapers. Passionate about telling local stories. Comes with a strange accent to due an Irish accident of birth.
