Why the value of your home could soon change
LANDOWNERS in Ipswich City will receive new land valuations in March next year following advice from Queensland's Valuer-General Neil Bray.
Mr Bray announced that 18 Queensland local government areas with about 1.03 million properties would be revalued.
Queensland's State Valuation Service South Coast Area Manager responsible for Ipswich City area Greg Crowley said analysis of Ipswich City's land market has found there has been sufficient market movement to conduct land valuations in 2019.
"While many regions continue to feel the impact of the drought, other regions have benefitted from an upturn in the resources sector and others are seeing rapid expansion of their local industries," Mr Crowley said.
"These land valuations are used to determine land tax, rental price for leased state land and by local councils to help determine rates.
"It is important to note councils consider land valuations and a number of other factors when preparing their budgets and setting rates.
"The Valuer-General's decision to select the local government areas to be valued is based on a rigorous process that includes consultation with councils, local groups and industry stakeholders; as well as detailed macro and micro analysis of land sales since the area's previous valuation.
"Landowners should also remember the valuations are for land only - and don't consider dwellings or structures. People wishing to have their house or commercial premises and land valued should contact a registered property valuer," Mr Crowley said.
For more information on Queensland's annual valuation program visit qld.gov.au/landvaluation