Redlands Coast property owners who do not agree with their latest State Government land valuations should lodge an objection with the State as soon as possible.
The advice follows significant land value increases by the Queensland Government Valuer-General for many properties across South East Queensland, which will have a significant impact on council rates.
Redland City Mayor Karen Williams said the latest Queensland Government Department of Resources valuations for Redland City, issued on 31 March, saw an overall 25 per cent increase since the previous valuations in 2019, well above the 17.5 per cent for Brisbane.
“Councils are obliged by State Government legislation to use these valuations, which are due to take effect from 1 July, when setting rates for individual properties which means higher land values have the potential to impact residents financially,” Cr Williams said.
“While these valuations, which are made by the Valuer-General and are outside councils’ control, may make many feel good about just how much their properties have appreciated in value, they are also used by councils to determine general rates.
“A significant increase in value can lead to an above average increase in the general rate for some home owners. So, if you believe your revaluation is excessive, I encourage you to put your case to the State Valuer-General.
“Redland City and other councils determine rates based on what they need to deliver for their communities. Here on Redlands Coast we have endeavoured to keep rates rises to an absolute minimum.”
According to the Valuer-General, these significant increases are due largely to strong demand for property, leading to soaring property prices and values.
Cr Williams said that while the movement of land values varied across Redlands Coast, the Southern Moreton Bay Islands had the most significant percentage-based increase in values due to the traditionally lower land values on the islands.
“If you believe your valuation is not justified or there are factors which haven’t been taken into account, please seek a review by the State Valuer-General. Details of how to lodge the appeal are included with your valuation,” she said.
“For your challenge to be considered, you must provide sufficient information to demonstrate that the valuation is incorrect and lodge your objection within 60 days … that’s by 30 May.
“Grounds for objection are quite specific and may include sales evidence, constraints on the use of your land and deductions for site improvements.
“Objections must be supported with proof of claims, so with the next Redland City rates notices not due until around mid-July, anyone who feels a review is justified should seek resolution from the State Valuer-General as soon as possible.”
For valuation information, contact 1300 664 217 or go to www.qld.gov.au/landvaluation.
What the state considers when valuing land?
When determining statutory land values, the Queensland Valuer-General:
- researches the property market;
- examines trends and sales information;
- inspect vacant or lightly improved properties that have recently been sold; interview vendors and purchasers of property, where appropriate; consider the land’s present use and zoning under the relevant planning scheme; and take into account physical attributes and constraints on use of the land.
How land valuations are used
- New valuations are used to inform calculation of local government rating and state land tax, where applicable, from 30 June 2022.
- Land tax may be payable to the State if the total taxable value of land you own in Queensland on 30 June 2022 exceeds the threshold.