Queensland’s Valuer General Neil Bray announced last week that land owners in local government areas would receive new land valuations in 2012.

Mr Bray said up to 1.6 million land valuations were due to be issued to landowners prior to 31 March 2012.

“I am pleased to announce that all of Queensland’s 58 rateable local governments will be valued as at 1 October 2011 becoming effective for local government rating, State land tax and State land rental purposes on 30 June 2012," Mr Bray said.

“As all local government areas were revalued in 2011, the 2012 valuations will reflect any variations that have occurred in the 12 months since the last valuation – avoiding the significant changes in valuations that can occur when valuations are not undertaken for a number of years.”
 
Mr Bray said the decision to value all of Queensland’s rateable local government areas was made after consulting with local governments, local groups and industry stakeholders and evaluating statewide market analysis.

“The Valuer-General’s indicative market movements report as at 31 July 2011 takes into account the property market movement since the last valuation was undertaken as at 1 October 2010,” Mr Bray said.

“With the exception of areas influenced by the growth associated with the mineral and gas resources industry boom, the Queensland property market over the past 12 months has been generally subdued with the volume of sales recorded with the Registrar of Titles at its lowest level over the past decade.

“Value changes, both up and down, can be attributed to a number of factors including the high Australian dollar which has impacted on Queensland’s export industries and tourism and related industries, global financial volatility, the growth associated with the resources industry boom, a moderation in Queensland’s population growth, difficulty in obtaining finance and uncertainty about the future.”

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