Land valuations fluctuate wildly in Queensland's Lockyer Valley, prompting the council to reshape tariffs

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June 30, 2019 07:58:22

A council in south-east Queensland pardoned the $ 4 million in earnings from "erratic land valuation fluctuations" to minimize the cost to tax payers.

Key points:

  • Lockyer Valley council remodels their rate billing procedures after some properties have been hit by major valuation increases
  • The Porter's Plainland Hotel grew by 124% compared to its last evaluation three years ago
  • At state level, 3,895 objections were filed by property owners this year

In his speech on the budget, Lockyer Valley mayor Tanya Milligan said that individual assessments in the region ranged from a 52% drop to a 428% increase – an important peak for a large residential development residential plan.

The invoices of the tariffs will be different from those owned in the Valley of Lockyer with the council retouching their billing procedures to minimize the impact on residents.

Queensland government land valuations have a direct impact on municipal rates.

"The easy option for us would have been to simply apply our rate model to the new valuations that would have generated an additional $ 4 million, but this is not what this advice is about," said Cr Milligan.

The average increase in land value of the area is 15%, but individual figures vary greatly.

Evaluation boom for the Plainland pub

The appraisal of the land for Porter's Plainland Hotel, on the Warrego Highway to the west of Brisbane, has increased by 124% from the last assessment three years earlier.

The hotel manager Michael Porter said he was "quite shocked" that the value of the land in the hotel has increased by millions of dollars.

"When we initially opened the letter and we saw the big increase, but certainly not surprising, of course, with the amount of developments going on in Plainland that will happen sooner or later," said Porter.

The family-run company has not formally challenged the assessment and is waiting for the next municipal rate bill, scheduled for August.

"I have not seen the bill yet, but obviously when we open it we will turn to that point and we will see how much they have increased, it is hoped that the advice is kind to us," said Porter.

Lockyer Valley Council finance chairman Chris Wilson said the region had not been evaluated for three years.

"If we had these assessments every year, it would make these effects much less," said Cr Wilson.

"We pay a fee – over $ 100,000 a year to the state government – so what we would like to see from a Council point of view, is an assessment every year."

Nearly 4,000 complaints

Land values ​​are determined by the assessors of the Department of Natural Resources of the Mines and Energy of the State Government based on recent sales of comparable properties and market trends.

New land valuations for 18 areas of the Queensland council were released in March 2019and will enter into force on 30 June 2019.

In a statement, General Valer-General Neil Bray said that differences in land valuations between neighboring lands were not uncommon.

"Land valuations are influenced by a number of different factors, including physical attributes such as views, shape, size, noise and elevation, as well as real estate and property market trends," said Bray.

Mr Bray said the decision was made not to make assessments in Lockyer Valley in previous years.

"After reviewing detailed market analyzes and consultations with local governments and industrial groups, it was determined that there were not enough market movements in the Lockyer Valley to justify the issuance of new valuations," he said.

At state level, this year, 3,895 objections were filed by the owners, out of 1.03 million assessments issued.

In 2018, there were 1,566 objections out of 507,406 evaluations.

The General Evaluator said that the objections of 2019 were still being drafted.

"With objections that are confirmed, we will notify both the local government and the Office of State Revenue and, if appropriate, make adjustments to the rates and property tax with the landowner," said Bray.

Brisbane rates reached 7.5%

In Brisbane, average land values ​​increased by 7% from the last cycle of assessments in 2017.

But some suburbs have had bigger peaks.

Rocklea has grown by 31%, Woolloongabba by 26% and Boondall by 23%.

Deputy Mayor Krista Adams said the council limited the rate of increase.

"We have a three-year program and we cover it at 7.5 percent, so properties that see a big jump in their acceptable average will probably see a jump in their rates, but we stop to make sure we can fight peaks and troughs that for our residents, "he said.

Cr Adams said the state government should make annual assessments.

"Last year we paid $ 2.5 million for the pleasure of not getting an evaluation, but the state government insisted we pay it anyway, so we think that if we were to pay, we should get an evaluation," he said. .

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. (tagToTranslate) land values ​​(t) house price (t) valuations (t) rates (t) advice

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