Land valuations are a hot topic and so they should be. We have all received our new Land Valuation and there have been massive changes in some areas. Land valuations are set by the Department of Resources, not councils, and are conducted every two to four years – our last was in 2019.
If you are unhappy with your new valuation and believe your circumstances on your parcel of land are substantially different to those around you then you can lodge an objection. You have until May 16 to object and the details are on the back of your valuation notice. You can also go online at www.qld.gov.au/landvaluation and see how your area fared compared to those around you.
Mackay Regional Council has more than 53,000 rateable properties in 25 categories and each year council sets a budget to ensure council can provide services for the community. Rates are then calculated based upon a property’s land use category and the current land valuation using a cents in the dollar calculation. As valuations rise, we drop the cents in the dollar to match what we need to run council.
Whilst calculating rates can seem complex, using the cents in the dollar method avoids situations where rates increase at the rate of property values. More information on how rates are calculated is available at council’s website.
Unfortunately, where wild fluctuations in land valuations occur, we will struggle to maintain an even rate rise across all ratepayers. For example, if your suburb has increased substantially compared to the average it will affect your rates.
This is the same for our rural land holders as because we cover such a large area there has been big changes in some areas. My rural land valuation has gone from $170,000 to $590,000 (288% rise). As this is higher than the average rural valuation rises, there is no doubt that this is going to have a negative effect on my rates.
Council will continue to look at multiple avenues to reduce costs prior to determining the rates generated per category for the 2023-2024 budget. I am always happy to chat or visit community groups to give more detail on this topic if you are interested.
Cr Laurence Bonaventura
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