Earlier this month, the Valuer-General issued statutory land valuation notices for all land, including commercial and residential land, in various local government areas throughout Queensland. The effective date of the valuations is 30 June 2018 and will be the basis for determining your rates and any land tax for FY18/19.
If you do not agree with the valuation, you are entitled to lodge an objection with the Department of Natural Resources and Mines.
In order for your objection to be considered, you must:
- lodge the objection within 60 days of the valuation notice being issued;
- provide reasons why the valuation is incorrect; and
- include the specific information required by the Land Valuation Act 2010.
Any one of the following grounds are considered to be an appropriate basis to object to a valuation:
You can provide details about comparable property sales and explain how the specific aspects and features of the properties that were sold relate to the valuation of your land.
You can explain how specific physical characteristics or constraints on the use of your land mean that a different valuation is appropriate.
You can contend that the valuation methodology used was incorrect and did not reflect the nature of the land, for example, the land is rural and site value was used instead of unimproved value.
If you own a property that is used exclusively for farming purposes, you may also be entitled to a concessional valuation.
You must supply supporting material when lodging your objection. If the application is too general or not supported by evidence then you are unlikely to be successful.
Except in very limited circumstances, such as in an extraordinary emergency, if you lodge your objection outside of the 60 days it will not be accepted and you will not have an opportunity to resolve your concerns regarding the valuation at the objection stage. Additionally, if the valuation objection is not resolved you will also have forfeited your right to appeal the valuation in the Land Court.
If you would like further information about how to lodge an objection, please contact Tom Walton on (07) 3007 3873.
We will be running a seminar entitled 'Are you getting the most out of your land valuations?' on this topic on 22 March, 2018 from 5:00 PM – 6:30 PM. Click here for more information and to register.
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This publication is for information only and is not legal advice. You should obtain advice that is specific to your circumstances and not rely on this publication as legal advice. If there are any issues you would like us to advise you on arising from this publication, please contact Cooper Grace Ward Lawyers.