NEW NOTICES ISSUED
The Valuer-General through the Department of Natural Resources
& Mines ("DNRM") issued Annual Land
Valuation Notices ("Notice") on 2 March
2016 for various local government areas including Brisbane City
Council, Gold Coast City Council, and other centres in
Queensland.
All property owners, including bodies corporate, will need to
determine whether or not they are satisfied with the new valuation
contained in the Notice. As well as a basis for rates charged by
the local authority for the property, the valuation will also be
used to assess the Land Tax payable by the property owner.
An increase in the valuation amount can therefore have important
consequences, particularly for body corporate managers,
institutional property owners, large property portfolio owners, and
property developers who hold land in anticipation of future
development.
