Balonne Shire land-owners have been advised to check their new property valuations.
Balonne Shire Council Mayor Samantha O’Toole said today that land valuations form the basis for Council rates and an increase in a land valuation in turn could lead to an increase in annual rates.
“We are not advising land-owners to lodge an objection to their land valuations,” Mayor O’Toole said. “That is an individual decision.
“However, we are advising land-owners to review their new land valuations before the deadline for lodging an objection to their land valuations expires on May 31 and consider if that’s an action they wish to take.”
Mayor O’Toole said the Queensland Government Valuer-General issued land valuations for 25 local government areas in Queensland, including Balonne Shire, on March 31.
The new valuations would come into effect on July 1. Objections close on May 31.
“It has been reported that the highest land valuation increases are in the Diamantina Shire, at 155.1 per cent. In Balonne, the land valuations look to be up by an average of 80.1 per cent, and we are one of more than a dozen shires where land valuations are reported to have increased by over 80 per cent.
“Of course, property valuations from the Valuer-General can impact our Council’s rates structure for the year ahead.
“Balonne Shire Council is reviewing its rating strategy for the 2021-22 financial year and will consider the impact of valuations for the Shire and individual property-owners, particularly where there is a significant rise in land valuations.
“What won’t change, however, is that Council will continue to ensure our community’s rates are delivering them quality, essential Council services while still balancing the financial impact on each individual household.”
The last Shire-wide valuation from the Valuer General occurred in October 2016 and came into effect for the 2017-18 financial year.
Note: The State Government says the Valuer-General released land valuations for 2,237 properties with a total value of approximately $847 million in the Balonne Shire Council area. The valuations reflect land values at 1 October 2020 and show that Balonne Shire has increased by 80.1 per cent overall since the last valuation in 2017. Rural land values have increased significantly due to the strength in beef commodity prices as well as a low interest rate environment. There have been moderate increases within the residential market sectors of St George and Mungindi, and a significant reduction in Dirranbandi since the last valuation. Within the township of St George, the commercial market is stable, and there have been moderate to significant increases within the rural residential and industrial markets, the State Government says.