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Will Sunshine Coast Rates Increase After Land Valuations?

Land valuations have climbed by a least 25 per cent across the Sunshine Coast region with some property owners receiving an increase of a massive 80 per cent in one year. The Sunshine Coast isn’t the only South East Queensland area to receive increases in a move that may increase council rates and land tax bills for property owners.

Land in South East Queensland is valued every one to three years depending on the region. The purpose of a land valuations is to provide a monetary value for a piece of the great Australian dream.

The Valuer General considers a range of factors during the valuation which include the location, size, zoning regulations, infrastructure, environmental considerations, and market conditions of the land. They analyse comparable sales data, review zoning regulations, assess the land’s development potential, and consider other relevant factors to arrive at an estimated value.

In March, Queensland’s independent Valuer General issued over than 700,000 land valuations impacting 20 Queensland council areas, including Brisbane, the Gold Coast, the Sunshine Coast, Bundaberg and Moreton Bay. Rural Queensland have been given the biggest land valuation increases this year with valuations rising a staggering 246% compared to just three years ago.

The Sunshine Coast Council can use land valuations to determine council rates, however, land valuations are just one of many factors that local councils take into consideration when determines the cost of rates to Sunshine Coast property owners. The Queensland or state government relies on the independent valuations to calculate land tax charges.

The rising land valuations could be explained by the increase in demand for land, national and international migration, and an increase in infrastructure projects, namely the upcoming 2032 Brisbane Olympics.

How was my valuation determined?

When assessing land values, valuers from the State Valuation service conduct research and analysis of the Sunshine Coast property market, including sales in each revalued local government region. Additionally, they consider factors such as the property’s physical land features, town planning, zoning, and flood levels. They also consider historical data which is evaluated along with sales data from various property classes and localities in the local government region.

How are flood events considered when valuing land?

The valuation of your land considers historical flood records as well as information from a variety of other sources. Flooding has a significant impact on a property’s land value, which is typically reflected in property sales in your area.

When evaluating your land valuation, valuers consider a variety of information, including:

  • Flood maps created by local council and professional specialists. Floods can have an impact on property markets.
  • The Land Valuation Act 2010 allows for modified assessments when land is permanently damaged and the Valuer-General determines that the damage has impacted the land’s worth.

When examining land values due to an adverse natural disaster, valuers consider several aspects, including:

  • Property sales in flood-prone locations, which may experience severe or mild floods on occasion.
  • How the land is used.
  • Whether this type of natural disaster has occurred before and is already factored into the price.
  • Permanent physical damage to the land. the magnitude, scope, and duration of any flood.
  • The date on which the land suffered damage or lost value.

Only land is evaluated. Structures such as houses, buildings, and fences are not considered when determining land prices.

Disagree with your land valuation?

If you received a land value notice and disagree with it, you might file an objection within 60 days of the date of issue. You can submit an objection online or in writing.

My land valuation has increased, I won’t be able to afford an increase in Council Rates

Local governments use a variety of factors to determine council rates, including land appraisals. Rates can fluctuate even when land values remain constant.

Local governments have a lot of leeway when it comes to determining general rates and may be able to offer concessions to landowners during difficult times. Land assessments do not take into consideration the landowner’s personal circumstances or their liability for local government rates, state land tax, and/or state land rental.