On 8 March 2017 the Valuer-General issued annual land valuations in 28 local government areas, affecting over 1 million properties in Queensland.
The valuations will take effect on 30 June 2017 and will be used for the assessment of local government rates, State land tax and State rental land (for leasehold land).
Statewide the valuations have been mixed, with many local government areas recording no increase in values. Brisbane valuations have been very mixed with nearly 50 suburbs recording no increase, whilst some suburbs have seen an increase in land value by up to a third.
Landowners who are concerned with a valuation can lodge an objection with the Valuer General. An objection must be lodged by 8 May 2017. Generally, objections lodged out of time will not be accepted by the Valuer-General.
It is important that an objection be accompanied by sufficient information and that the objection complies with the strict requirements of the Land Valuation Act 2010 (Qld).
If you would like further information concerning this, please contact Ciaran Houston, Principal or Sarah McCabe, Solicitor.