Home Property Australia Land Valuations issued for 2024

Land Valuations issued for 2024

  • March 28, 2024
  • by Property Australia
Land Valuations have been issued for 2024.

This week the Valuer-General issued the land valuations for 20 local government areas in Queensland excluding the Brisbane Local Government Area.

Under the Land Valuation Act 2010 land values are assessed annually as of 1 October with notices issued by 31 March the following year.

The act allows for an objection period of 60 days from the date of receiving the valuation.

While reviewing your valuation notice, it is important to remember that they will not 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 the 60 day objection period.

More information on lodging an objection can be found online.

Unsurprisingly there has been increases in valuations for certain areas during this rating period, particularly along coastal areas with increased market demand and record property prices.

Where the Valuer-General has not issued new land valuations, the last valuation remains in effect.

The Property Council has long maintained that all local government areas should be revalued annually to properly gauge and reflect market changes and to ensure consistency across Queensland.

In a video the Valuer General has explained that to an extent increased valuations can be attributed to an increase in demand for land, high net migration and an increase in infrastructure projects.