Producers who plan to submit objections to increases in their land valuation assessments need to ensure they meet at least one of three important criteria, according to a senior State Valuation Service officer.
According to the Department of Resources SVS Lands Division south west region area manger John Thomas, one method is whereby landholders must prove their property value was not relative to neighbouring properties.
"The second option is being able to show comparable sales which demonstrated their property had not increased in value," he said.
"The third comprised other issues such as pasture dieback, access to the property such as road deterioration or damage caused by floods or erosion."
Mr Thomas who has 40 years experience working in land valuation around the state, said recent changes to interest rates and commodity prices had not resulted in reductions in land values.
"From 2019 on to 2022 there was a really good season, we had low interest rates, good commodity prices and the rural property market really took off," he said.
"Between 2021 and 2022, the department did some investigations where we undertook a revaluation of the properties on the northern Downs from Hughenden to Mount Isa, including Barcaldine, Blackall Tambo, Maranoa and Balonne as well as the Western Down Regional Council.
"The majority of those areas received an increase of at least 100 per cent."
Mr Thomas said while for example cattle prices had improved they were not back to the high of previous levels which existed in 2022.
"We have looked at land sales in 2022 and 2023, as well as cattle prices and interest rates," he said.
"While one has gone down and the other has risen, landowners are taking a more strategic view of their business models."
Mt Thomas said his colleagues provided an independent valuation process based on what sales occurred.
"We then provide this data to local government, the Queensland Revenue Office and to our department," he said.
However, how much to charge landholders came down to a decision made by local government, he said.
"Local government have many tools to draw on when they decide how to implement the rates they need to raise revenue for the next year.
"These tools are differential rates, minimum rates, capping and averaging."
While landholders have the opportunity to object to an increased rate valuation, there is no guarantee of success.
Mr Thomas said anyone with any questions should call the land valuation hotline on 1300 664 217.
"They can call the hotline and and discuss their situation in confidence," he said.
Objections can be lodged until May 27, 2024 and new valuations come into effect on July 1, 2024.
Know more about this issue? Contact Alison Paterson on 0437 861 082.
