Time is running out for landowners to review their new land valuations, with less than a month before the end of the objection period on 12 May 2014.
New land valuations
Approximately one million new valuations have been issued to landowners in 41 local governments across Queensland.
The new valuations will be used for local government rating, state land tax and state land rental when they take effect on 30 June 2014.
Landowners who believe their new valuation is incorrect have the right to lodge an objection with the Department of Natural Resources and Mines. Landowners who wish to object to their land valuation must:
- provide sufficient information to demonstrate that the valuation is incorrect
- include all required information in accordance with the Land Valuation Act 2010 (LVA).
Grounds of objection may include:
- sales evidence supporting a different value
- physical characteristics or constraints on the use of the land that supports a different value
- other issues which may affect the valuation
- deductions for site improvement (for land valued using site value only).
Different valuation methodologies apply depending on whether land has been valued on the basis of site value for non-rural land or unimproved value for rural land.
Landowners have until 12 May 2014 to lodge objections against their new valuations.