The Department of Natural Resources and Mines issued annual land
valuations for 41 local government areas in Queensland (including
Brisbane, Gold Coast, Moreton Bay, Scenic Rim, Gympie and
Toowoomba) on Wednesday 12 March 2014.
In this Alert, Partner James Ireland and Solicitor Thomas
Buckley discuss the new valuations, which take effect on 30 June
2014.
The new valuations are available
here, and will be used to calculate local government rates,
state land tax and state land rental.
Valuations
The valuations reflect land values taken on 1 October 2013 and
show overall increases in land values for Brisbane (+3.0 percent),
the Gold Coast (+1.9 percent) and Toowoomba (+8.4 percent), but
decreases in other areas, such as Moreton Bay (-2.1 percent) and
Gympie (-4.3 percent). A full list of the local government areas
affected is available
here.
