Information for Townsville Property Owners
In the aftermath of the terrible floods that hit North Queensland at the start of the year, the Property Council has advocated for the Queensland Government to undertake valuation and tax policy reforms that would assist in Townsville’s recovery.
While the Townsville local government area was not revalued as part of the 2019 Annual Valuation Program, there is provision within the legislation (section 90, Land Valuation Act 2010) which provides the opportunity for property owners to have their valuation amended if flooding events have affected a property’s value. Applications must be made to the Valuer-General within 6 months of the damage occurring.
The Property Council has also received advice that the Office of State Revenue has suspended proactive collection of land tax (and other outbound activities, such as issuing assessments) and has provided affected taxpayers with the opportunity to extend their payment due date by up to two months without interest.
Land tax payers also have an extended payment option which allows assessments to be paid in three equal instalments over a 150-day period as an alternative to paying land tax in full by the due date.
Further information on OSR’s disaster response procedures is available here.