March 21, 2013
Land valuations in the Gympie Regional Council area have fallen by an average of 11.2 per cent according to the latest land valuations released today.
Queensland’s Valuer-General Neil Bray said the valuations reflected land values on 1 October 2012 and showed Gympie Regional Council area’s land values had decreased since the last valuation issued in 2012.
“However residential land values remained unchanged in some localities such as Southside, Kilkivan and Goomeri,” he said.
“Residential and rural home site values have decreased in the order of 10 per cent in most areas while commercial and industrial lands have fallen by up to 25 per cent, reflecting ongoing economic uncertainty in the retail and service industry sectors.
“Farming areas have seen large reductions overall with western grazing lands falling by around 10 per cent while higher value lands around the Mary Valley have generally decreased by up to 20 per cent. ”
Mr Bray said reviews were undertaken to determine the impact of recent severe weather events on statutory land valuations.
“In local government areas being valued this year, all properties that are flood affected for the first time were reassessed,” he said.
“In areas where the impacts of flooding are already recorded, statutory valuations will reflect those impacts.”
Mr Bray said it was important that landowners realised that valuation notices were not rate notices.
“Rates are set under the Local Government Act 2009 and are determined by local government authorities,” he said.
“The setting of rates is based on a number of factors – valuations are only one of those factors.”
Mr Bray said landowners who believed their valuation was incorrect and could provide information to support this could this year, for the first time, lodge their objection online at www.dnrm.qld.gov.au/property/valuations or at the address shown at the top of their valuation notice by 20 May 2013.
“The list of Queensland’s statutory land valuations and market tables for major residential localities can be viewed online at www.dnrm.qld.gov.au/property/valuations/annual-valuations/market-tables until 18 June 2013 – allowing landowners to compare their valuations with others in their area.
“A hard copy of the valuation list for the Gympie Regional Council area can be viewed at the Department of Natural Resources and Mines, 27 O’Connell Street, Gympie during normal business hours until close of business on 18 June 2013.”
Land valuations for the South Burnett Regional Council area have yet to be released.
The table below provides information on median values for residential land within the Gympie Regional Council area, but does not include land valued as rural residential.
The table below provides information on median values for land uses other than residential within the Gympie Regional Council area.
