Annual land valuations issued today
Today the Valuer-General issued land valuations for 30 local government areas in Queensland. Under the Land Valuation Act 2010 land values are assessed annually as of 1 October, with notices issued by 31 March the following year.
Given the rating assessment date of 1 October was before the recent flooding events the Valuer-General’s office has advised:
- All valuation notices issued within declared disaster LGAs will be accompanied by a notice regarding flooding. For those whose properties have been permanently damaged by floods, there is a 6-month window from the date of the damage to request a new valuation.
- To assist those in impacted areas, a dedicated telephone hot line has been created, and will be available for 60 days - 1300 664 217.
- Land valuations flood impact feedback, the State Valuation Service continues to monitor the impact of flooding on property market sales, with this information informing future land valuations. To assist in capturing this data, we urge all impacted members to complete the online form here, to ensure any impact is noted against your property.
Under the Land Valuation Act 2010, the objection period is 60 days from the date of receiving the valuation.
When reviewing your valuation notice, it is important to remember that they will only reflect the new valuation figure. To track data or look at comparable properties, data will be available, for free, on the Queensland Globe website throughout 60 day objection period.
To lodge an objection please visit: How to lodge a valuation objection.
To search via address please go here: Queensland Globe (information.qld.gov.au)
Not surprisingly there has been some substantial increases in valuations during this rating period, particularly along coastal areas with increased market demand and record property prices. It is important that property owners are aware of their rights and terms of the objection period.
The 2022 land valuation program included 30 LGAs valued, which is 1.51 million valuations and 87% of the valuation role. For detailed information on your region please search here.