Check Your Land Tax

New valuations have been released by the Valuer-General for a number of  local government areas (LGA), though not all areas have been valued this cycle.

The updated valuations apply to several significant LGAs including Gladstone Regional, Gold Coast City, Ipswich City, Lockyer Valley Regional, Noosa Shire, Redland City, Sunshine Coast Regional, and Tablelands Regional Councils, among others.

Increases range from 11 percent (Hinchinbrook) to 84.9 percent (North Burnett). Notices of valuation are being issued to land holders in LGAs included in this valuation round.

As state valuations are not undertaken for each LGA every year, increases can be substantial when valuations do occur. Members can view the list of revalued LGAs, the percentage change, and when the LGA was last valued here. 

Valuer-General state valuations are used by LGAs for rating purposes; however, changes to council rates are determined by council decisions rather than state valuation changes alone. 

State valuations are also critical in the calculation of Land Tax. The Queensland Revenue Office uses the lower of the Valuer-General’s current statutory value or the averaged value (based on the previous three years) to determine the taxable value. More information about how taxable value is calculated can be found here.

Members are encouraged to share their views on the state valuation process, including which LGAs should be revalued and when, as well as broader matters relating to land tax, for consideration as part of the Institute’s ongoing policy and advocacy work. 

Have Feedback or Input?

If you have any feedback or questions, please contact Manager of Policy, Martin Zaltron via mzaltron@udiaqld.com.au or on 07 3229 1589.

Article Contributed by Martin Zaltron, Manager of Policy, UDIA Queensland.

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