IPN Mackay Whitsunday

Release of Queensland Statutory Land Valuations – 2019/20

By March 17, 2020No Comments

The annual Statutory Land Valuations used to calculate local Council rates and State Land Tax levies have been released by the state governments’ Valuers General.  The 2020 release includes new Land Valuations for a number of local government authorities including:

  • Banana
  • Bundaberg
  • Cassowary Coast
  • Flinders
  • Gold Coast
  • Hinchinbrook
  • Mackay
  • Mount Isa
  • Rockhampton
  • Torres
  • Winton
  • Brisbane
  • Burke
  • Cloncurry
  • Fraser Coast
  • Goondiwindi
  • Livingstone
  • McKinlay
  • Richmond
  • Scenic Rim
  • Townsville

This a good opportunity to make Owners or tenants of commercial properties aware of the new Land Valuations with the goal of achieving a lower assessment to assist reducing various tax levies payable or outgoings associated with leased commercial properties.  

A reduction of a commercial type Land Valuation of $20,000 will save upwards of $1,800 per annum in statutory levies. Reducing the recoverable outgoings upon a property, not only benefits Owner-occupiers, but also occupancy expenditure to an incumbent occupant further improving its attraction in comparison to other properties. Capitalising this reduced cost of $1,800 could add upwards of $20,000 to the value of the property.

This will require research and analysis of market evidence, sound knowledge of Court precedents, general processing and including a Land Objection Notice to be submitted within the timeframes set by the Land Valuation Act (Qld) 2010.  

The Objection must be lodged within 60 Days of the date of issue of the valuation notice.

We would like to offer our expertise in this process and would be pleased to discuss the matter with you or clients. 

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