The Valuer-General has released the annual land valuations for 2020, affecting 21 local government areas across Queensland.
The new land valuations will be effective from 30 June 2020, and will be used for the assessment of local government rates, State land tax and State land rental (for leasehold land).
Statewide, the valuations have been mixed, with large metropolitan areas recording small increases. A majority of local government areas have recorded no increase in values.
Brisbane median land values have increased by around $5,000 with large increases recorded in southern and western suburbs such as Archerfield, Darra, Durack, as well as northern suburbs such as Grange, Kalinga and Fitzgibbon.
Landowners who are concerned with a valuation can lodge an objection with the Valuer General. An objection must be lodged by 5 May 2020. 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).
For further information, please contact Ciaran Houston, Principal on 3231 0410, or Nathanial Trappett, Solicitor on 3014 6538.