FAQs - New Rural Land Valuations for 2018

FAQs - New Rural Land Valuations for 2018

The Valuer-General has issued 507,000 new land valuations in 22 council areas across Queensland.

The areas affected this year include: Banana, Barcoo, Boulia, Bulloo, Central Highlands, Charters Towers, Diamantina, Douglas, Fraser Coast, Gladstone, Gold Coast, Goondiwindi, Hinchinbrook, Isaac, Maranoa, Murweh, Noosa, Paroo, Quilpie, Scenic Rim, Sunshine Coast and Toowoomba.

What are Unimproved Values?
The unimproved value is the value of your land in its natural, undisturbed condition, recognizing potential. It is the amount for which rural land could be expected to sell for without physical improvements such as structures, fences, clearing, yards and waters.

How is Unimproved Value Determined?
Unimproved Values are done by mass appraisal, meaning that your property is not individually valued each time new valuations are issued. Key sales are analysed in market areas, improvements are valued and the value of these are deducted from the sale price resulting in a new Unimproved Value for the sale (Sale Price – Value of Improvements = Unimproved Value).

The new unimproved values from these sales are compared to others in the area and will show market trends of the unimproved valuations since the last shire revaluation has occurred. The department will then draw conclusions from this sale evidence and apply these changes in unimproved values in the area.

Why is it important to understand your unimproved land value?

If your value is incorrect / too high compared to other properties in the area it could mean that your unimproved value is wrong, meaning the amount of rates and rent you are paying are incorrect. It could result in large saving in your rates and rent by objecting to your new valuation in if your unimproved value is too high.

In addition, if the Department of Natural Resources, Mines and Energy has incorrectly estimated the country classification and the productivity capabilities (for example, carrying capacity) of your property, it could mean your unimproved value is wrong. Your country classification can be obtained from your local DNRME office.

How can I get advice and find out more?
AgForce is proposing to have our independent valuer John Moore visit the Charleville and Roma office to assist members to check their unimproved values are correct and discuss freeholding options.

As part of your membership with AgForce, John is providing free advice to members on their 2018 valuations. Please contact AgForce on 3236 3100 if you would like to book a meeting with John.

You can also check your valuation by using the Land Valuations Globe online to see how you compare to surrounding properties. You can visit https://www.qld.gov.au/environment/land/title/valuation/annual for more information about the 2018 valuations and to view the Globe.

What else is AgForce doing?
Over the last few months, AgForce has spoken to many mayors and rural councillors in the affected regions in order to stress that increases in land valuation should not be used as a opportunity for blatant revenue raising.

In fact, local councils are able to manage rate increases through a range of measure including capping, freezing and adjustment of their differential rating.

FAQs - New Rural Land Valuations for 2018

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