Rural landholders urged to check new valuations
Wednesday, 8 Mar 2017
AgForce is urging rural landholders to check new land valuations released today are correct to ensure they don’t end up paying more in council rates and leasehold rent than they should.
AgForce rural property valuer John Moore said the Department of Natural Resources and Mines was today issuing 88,000 rural valuations in 28 council areas across Queensland with increased sales in rural markets to result in rising land values in various agricultural sectors, including grazing.
“The rural property market over the past 18 months has been particularly buoyant on the back of strong commodity prices, with general rises of up to 25 per cent in parts of the market,” he said.
“Unimproved value - which is the amount for which rural land could be expected to sell for without physical improvements such as structures, fences, clearing, yards and water - generally follow market trends so we can expect there will be rises in unimproved values as well.
“Unimproved values determine what council rates rural landholders pay and are also used to calculate leasehold rents, so it’s important the figures are right.”
Mr Moore encouraged rural landholders who receive new valuations to check them using the Land Valuations Globe online and see how they compare to surrounding properties.
“Landholders need to check their valuations so they don’t end paying more than they should,” he said.
Landholders have 60 days in which to object to their new valuation, and rural landholders who want more information or wish to lodge an objection can contact AgForce on 3236 3100 to book a consultation with John Moore.
Media Contacts: Scott Whitby 0418 733 102, Sarah Henderson 0427 626 853