The Valuer General’s 2021 Annual Land Valuation Notice has been released. Twenty-five (25) local government areas in Queensland encompassing 261,000 landowners were issued with new land valuations on 31 March 2021.
Valuations are assessed annually on 31 October and released on 31 March in the following year. These valuations come into effect from 30 June 2021.
The land is assessed on either the “site value” or “unimproved value” basis. Different calculations are made based on whether the land is rural or non-rural land. This is called the Property Valuation Methodology and it is used to calculate local government rates, State land tax and State land rentals (for leasehold land).
If you have received your valuation and you do not agree with it, you must lodge an objection online to the Valuer General by 31 May 2021. If your application is lodged after this date, it will not be accepted by the Valuer General.
The process for an objection is governed under the Land Valuation Act 2010. In accordance with the Act, an application must be ‘properly made’ and supported with information that states reasons as to why you believe the valuation is not accurate.
The different grounds for an objection include the comparable property sales in and around your area, site improvements and/or physical characteristics of the property that may create a negative impact on price in the event of a sale.
It is possible to have your objection process managed by another person on your behalf. A landowner may ask a family member, friend, real-estate agent or a lawyer to assist if there is a signed letter of consent attached to the application.
More detailed information about the processes and guidelines relating to land valuations in the Mackay and Whitsundays area can be found here on the Queensland Government website.