HomeNewsObjection period to land valuations extended

Objection period to land valuations extended

Bundaberg Region rural property land valuations
Demand for horticultural land suitable for small crops and tree crops has been identified as a key factor in the rise of land values in the Bundaberg Region.

The period for objections to annual land valuations issued last month has been extended from 5 May to 1 July if coronavirus is the reason.

Valuer-General Neil Bray said he understood many Queenslanders are doing it tough during the pandemic.

“For landowners who can submit an objection by 5 May 2020, my team is ready to help,” he said.

“However for those who unable to do so due to COVID-19 and state that on the objection,  then late lodgement is available until 1 July 2020.

“Each objection lodged after 5 May 2020 will be assessed on a case-by-case basis and should include reasons for late lodgement.

“The earlier an objection is lodged, the sooner the matter can be driven to resolution, and sooner I can advise local governments and the Office of State Revenue of any valuation changes.

“In these extreme circumstances, this is our small way of supporting landowners affected by COVID-19 across the state.”

Any landowners who disagree with their valuation can lodge an objection.

Land valuations background

New valuations were issued on 4 March 2020 and reflect the value of land as at 1 October 2019.

The new land valuations are effective from 30 June 2020 and are used to calculate local government rates, state land tax and state land rental (for leasehold land), where applicable.

Bundaberg Region land valuations

Demand for horticultural land suitable for small crops and tree crops has been identified as a key factor in the rise of Bundaberg land values.

Valuer-General Neil Bray said the land valuations reflected data on 1 October 2019 and showed the Bundaberg region had increased by 5.4 per cent overall since the last valuation in 2017.

“While the overall land value has increased since the last valuation, there are some market sectors and localities where there has been no change in values,” Mr Bray said.

“Residential values have generally remained steady in Bundaberg and most hinterland centres, while most commercial and industrial lands are generally static.

“The median residential value has had a slight increase to $117,000 reflecting the rising land values in some coastal centres.

“Median values in some coastal centres have risen, with Burnett Heads and Coral Cove having minor increases to $110,000 and $139,000 respectively.

“Rural residential lands experienced varied changes across the region with values around Bundaberg, Childers and coastal areas generally static, while some other areas have seen some minor to moderate increases and decreases as reflected by the local market evidence.

“The median land value of $104,000 has not changed as a result of the varied market evidence.”

Additional information:

  • Industrial, retail and other commercial sales activity has been static with the exception of the Bundaberg Industrial Estate and Kensington Park, which have experienced an increase in land values. As a result, the overall value of both commercial and industrial lands have increased slightly across the region.
  • Multi-unit residential land values are showing a minor increase due to improving land values in seaside properties in Bargara.
  • The overall rural land value has increased significantly since the last valuation due to a strong demand for both small and larger size properties. The ongoing demand for horticultural land suitable for small crops and tree crops has been a significant factor in the local market. Grazing lands have also increased with value changes reflective of attributes such as size and location.

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