Key local government areas not to be valued in 2018
In a surprise move, Queensland’s Valuer-General, Neil Bray, has decided he will not be issuing new valuations for Brisbane in 2018.
The primary purpose of statutory valuations is to inform land tax and the setting of local government rates.
Announcing his plans for new land valuations to be issued in March 2018, the local government areas of Brisbane, Logan, Ipswich and Moreton Bay were noticeably absent. This means that less than 30 per cent of rateable properties across Queensland will receive new valuations in 2018.
In both 2015 and 2016, a significant number of landowners in Brisbane raised concerns with their valuations- almost 1,200 in 2016, with 241 of them for properties over $5 million. Many of these objections are still working their way through the Independent Chair Conference process or the Land Court.
Landowners are only able to object to new valuations, so if they did not object last year, there is no opportunity to appeal in 2018.
Valuations are meant to be undertaken annually, unless there are unusual circumstances or limited movement in the market.
The Property Council has expressed its concern with this decision, and has continued to advocate the importance of valuing every local government area on an annual basis.