March 24, 2023
Ratepayers in the western part of the Gympie Regional Council area could get a shock when their latest land valuation notices arrive in the mail.
The Queensland Valuer-General released its latest round of valuations this week.
The new valuations have increased Gympie’s median land value from $131,000 to $185,000 – an average rise of 41.2 per cent – but valuations in some areas are far above this.
In Kilkivan, average property values have risen from $61,000 to $98,000 (a rise of 60.7 per cent); in Tansey, values have climbed from $19,600 to $28,500 (45.4 per cent); and in Kinbombi, values have shot up from $11,600 to $16,800 (44.8 per cent).
Goomeri values have risen from $39,500 to $51,000 (a rise of 29.1 per cent) and Woolooga, $29,000 to $32,000 (a rise of 10.3 per cent).
On Wednesday, Gympie Mayor Glen Hartwig moved to mitigate concerns the record jump in land values could lead to a rate hike in the next financial year’s Budget, but said any decision on rates would rest with the entire Council.
Gympie Council’s finances have been hit in recent years.
In its latest annual report, Gympie reported a loss of $1.48 million for the 2021-22 financial year.
That loss is expected to climb further this year after the region was hit with three catastrophic floods which damaged an estimated 30 per cent of the region’s roads and also caused extensive damage to parks, pools, community halls and Gympie’s CBD.
- Related article: Owners Urged To Check Valuations
