Member for Warrego, Ann Leahy is urging landowners to carefully review their valuation notice and consider if they should lodge an objection against their new valuation.
Ms Leahy says the new valuations have been undertaken for properties in the Western Downs, Maranoa and Balonne Local Government areas which should reflect the property market on 1st October 2016, the date of the valuation.
“In general, there have been some significant decreases in Industrial and Commercial property types, however Rural property types have increased in value.”
Ms Leahy says the new valuation will take affect from 30th June 2017 for rating, land tax and state land rental purposes.
“One of the key requirements of the process for land valuation objections is that the objection must be properly made within 60 days of the date of the issue of the valuation.”
Ms Leahy says at least one of the following grounds of objection must be provided along with supporting information:
- Sales evidence supports a different value. (ie) specific details of comparable property sales and explain how each sale property compares to the valuation of your land. Comment can be made on the attributes of the sale property as compared to those of your property.
- Physical characteristics or constraints on the use of the land support a different value.
- Other issues which may affect the valuation.
- Deduction for site improvements (DSI) – For land valued using site value only.
“Objections can be done online or for those landholders without internet access an objection kit that includes a step by step guide and form is available by phoning Ph 1300 664 217.”
Notice of Objection Forms are available from local DNR offices or at www.derm.qld.gov.au and further information is available from the call centre Ph 1300 664 217.