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Wild land valuation varies in Queensland's Lockyer Valley, urging the council to adjust the cost of the bill



Posted

June 30, 2019 7:58:22 AM

The Southeast Queensland Council lost $ 4 million in profit from "unpredictable fluctuations in land valuation" to minimize the cost of taxpayers.

Key points:

  • The Lockyer Valley Council will redefine its charging rates after some properties have been hit by a higher value increase
  • Hotel Porter Plainland has risen 124 percent since last assessment three years ago
  • Property owners submitted 3,895 complaints at the state level this year

In his budget talk, mayor of Lockyer Valley, Tanya Milligan, said individual ratings in the region differed from a fall of 52 percent to a 428 percent increase – a major increase for a large residential plot projected for housing development.

The cost of the bill will vary from property to property in the Lockyer Valley, and the council will redesign its billing procedures to reduce the impact on residents.

Quince land estimates on land have a direct impact on council rates.

"The simple option for us would simply apply our rate model to new estimates that would generate additional $ 4 million in revenue, but that's not what the council is concerned," Cr Milligan said.

The average land value increase for this area is 15 percent, but the figures are significantly different.

Estimated value for pub Plainland

Estimated land value for Porter's Plainland Hotel, on the Warrego highway west of Brisbane, has risen 124 percent since the last estimate three years earlier.

Hotel manager Michael Porter said he was "quite shocked" as the value of land in the hotel rose to millions of dollars.

"When we initially opened the letter and saw a big increase, but not surprisingly, it is obvious that the amount of development going on in Plainland will happen sooner or later," Porter said.

The family business did not formally object to the evaluation and waits for the next councilor's bill, which should be in August.

"I have not seen the bill yet, but obviously when we open it, then we will turn to see how much they have grown, we hope the council will be kind to us," Mr. Porter said.

The Lockythan Valley Financial Council Chris Wilson said the region had no estimate for three years.

"If we had these estimates every year, they would make them much smaller," said Cr Wilson.

"We pay a fee – over $ 100,000 a year to the government – so what we would like to see from the standpoint of the council is an estimate every year."

Almost 4000 complaints

Land values ​​are estimated by the State Department's Department of Natural Resources and Energy based on recent sales of comparable real estate and market trends.

New land estimates for 18 Queensland Council areas were announced in March 2019 and came into force on June 30, 2019.

In a statement, General Assessor Neil Bray said the differences in land valuation between neighboring countries are not unusual.

"Assessing the value of land is influenced by a number of different factors, including physical attributes such as views, shape, size, noise and altitude as well as sales trends and real estate markets," said Mr. Bray.

Mr. Bray said that a decision was made not to make estimates in the Lockyer Valley earlier years.

"After considering a detailed market analysis and consulting with local authorities and industrial groups, it was found that there was not enough movement in the Lockyer Valley market to justify issuing new estimates," he said.

At the countrywide level, this year, 3.895 complaints were filed with property owners, out of 1.03 million of the estimate.

In 2018 there were 1,566 complaints of 507,406 estimates.

The chief appraiser said the complaints from 2019 are still being processed.

"With observations that are respected, we will also notify the local government and the State Revenue Office and, where appropriate, will be able to adjust the rates and land tax to the landowner," Mr Bray said.

Brisbane recorded a rate of 7.5 percent

In Brisbane, average soil values ​​increased by 7 percent from the last round of estimates in 2017.

But some suburbs had bigger spikes.

Rocklea rose by 31 percent, Woolloongabba by 26 percent and Boondall by 23 percent.

Vice Mayor Christ Adams, deputy mayor, said the council had limited growth rates.

"We have a three year program and we limit it to 7.5 percent, so real estate that see a big leap in its average tax rate is likely to see a corresponding jump at their footsteps, but we limit it to make sure we can fight against peaks and troughs that for our people, "she said.

Cr Adams said that the state should make annual assessments.

"Last year, we paid $ 2.5 million for satisfaction that we did not get a valuation, but the government has insisted that we are paying so we can feel that if we have to pay, then we should have an estimate," she said.

theme:

community and society,

housing,

government and politics,

business-economics-and-finance,

regional,

local self-government,

urban-development-and-planning,

QLD,

plainland-4341,

Lockyer-4344,

Brisbane 4000,

Australia,

Toowoomba-4350


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