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ARTICLE · 01 APRIL 2010

Land Valuations for 2010 to be Released

HopgoodGanim
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After extensive and successful lobbying from various industry organisations, Queensland State Government has agreed to a number of significant amendments to the Valuation of Land and Other Legislation Amendment Bill 2010. The amended Bill as passed commenced on 12 March 2010.

AustraliaReal Estate and Construction
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James Ireland, Partner

After extensive and successful lobbying from various industry organisations, the State has agreed to a number of significant amendments to the Valuation of Land and Other Legislation Amendment Bill 2010. The amended Bill as passed commenced on 12 March 2010.

The amendments made to the Bill address many of the concerns raised in our paper A Radical Change to Queensland's Rating and Land Tax System.

Significantly, the State has committed to a full review of Queensland's valuation system in time for the release of the 2011 valuations in March next year. As part of that review, the State has signalled a move to site valuations rather than unimproved valuations. This would bring Queensland in line with many of the other Australian states.

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