On 26 March 2024, the Queensland Valuer-General issued new land valuations to landowners for 20 local government areas in Queensland, including Banana, Barcoo, Bulloo, Central Highlands, Diamantina, Goondiwindi, Isaac, Longreach and Winton.
The valuations reflect land values as at 1 October 2023, and are effective from 30 June 2024.
Key Changes
Some of the highest rises in primary production values are in Banana 154%, Barcoo 250%, Bulloo 252%, Central Highlands 121.3% Diamantina 254.6%, Longreach 151.2% and Winton 117.3%.
These increases in values will result in sharp rises to rates and land tax bills. It is important for landowners to review their land valuation to determine whether they believe there are grounds to object.
Objections
Objections must be lodged within 60 days of the date of issue of the valuation notice.
Importantly, the 60-day objection period for the 2024 land valuations will close on Monday, 27 May 2024.
It is important to note that only grounds of objection with supporting evidence will be considered. If broad or incomplete grounds are used, the objection will be deemed as not being ‘properly made’ and a correction notice will be issued.
The Queensland Valuer-General has indicated that acceptable grounds of objection may include:
- sales evidence supporting a different value;
- the physical characteristics or constraints on the use of the land supporting a different value; or
- other issues that may affect the valuation.
Grounds that are likely to be deemed unacceptable could include:
- statements that are unsubstantiated, broad or generalised;
- comparisons with the general market indicators; or
- comparisons to previous land values.
Get in touch
If you have any questions about any recent statutory land valuations or the process to submit an objection, please feel free to contact a member of our agribusiness team.
