Whitsunday rates under microscope with land value
Land values across the Whitsundays will be revealed next year with forecasts the pandemic will play a big role in determining how much properties are worth.
The Whitsunday and Burdekin region will receive new land valuations in March 2021 as part of the statewide program.
About 261,000 properties across Queensland will be assessed, which makes up about 59 per cent of the total land area of the state.
Land valuations are part of the considerations used to calculate local government rates, state land tax and state land rental.
They also provide information about the property market in certain areas.
When valuing land, a number of factors are taken into account including property sales, vacant properties that have recently been sold and land use and zoning.
The Valuer-General said the impact of the COVID-19 pandemic this year would be a major consideration when determining the property market and any movement in each local government area.
“While transaction numbers have reduced from previous levels, the residential sector has been largely resilient with values remaining steady or improving,” the Valuer-General said.
“Queensland’s rural areas have been largely unaffected by the negative impacts of COVID-19 and continuing confidence has seen positive value growth in the pastoral zones of South West and Central Queensland.
“While the economic decline brought about by shut downs earlier in the year may have negatively impacted some sectors of the non-residential market, the reopening of businesses has seen some confidence return to these sectors.”
Queensland landowners can sign up to receive their next land valuation notice by email by visiting the Land Valuations website.