STATE farm lobby group AgForce is urging Queensland landholders not to delay if they want to object to new primary production land valuations – or risk being lumped with higher council rates and state land rent.
Queensland’s Valuer-General yesterday issued land valuations for 14 local government areas in the state, reflecting valuations as at 1 October 2024. The valuations are effective from 30 June.
The rises in primary production valuations were:
- Brisbane – 12pc
- Cairns – 13pc
- Cassowary Coast – 65pc
- Charters Towers – 122pc
- Logan – 10.6pc
- Murweh – 252pc
- Paroo – 252pc
- Quilpie– 251pc
- Rockhampton Region – 108pc
- Scenic Rim – 15pc
- South Burnett – 40pc
- Southern Downs – 29pc
- Toowoomba Region – 42pc
- Townsville – 72pc
AgForce CEO Michael Guerin said the time for landholders to speak up was now, with objections needing to be lodged with the Valuer-General by 26 May.
“Unimproved values determine what council rates rural landholders pay and are also used to calculate leasehold rents, so it’s important the figures are right,” Mr Guerin said.
“In recent years, AgForce has assisted many members secure significant reductions in valuations, resulting in large savings, and once again we are ready to assist with our free workshops to help people assess their valuations and find out more about the objection process.
AgForce’s valuer John Moore said responsibility for ensuring values were correct lay with landowners, not local governments.
“Unimproved values are done by mass appraisal, meaning your property isn’t individually valued so errors can occur,” Mr Moore said.
“It’s important you object to your new valuation if you believe the unimproved value is too high, because it could result in large savings in rates or rent.
“But you only have until 26 May to do so, so I urge landowners to begin the process today.”
Landowners who disagree with their valuation and are able to provide supporting information can lodge their objection online or at the address shown at the top of their valuation notice by 26 May 2025.
- Landholders without internet access can call 1300 664 217 to request an objection kit.
- Specific information on market movements in the 14 local government areas revalued in 2025 can be found on the land valuations website.
Yes, Rates and Rents are becoming a bit willing!
In my opinion, and backed by my recently completed PhD. on this very topic, the following is a fair and accurate guide to the fundamental-value of pastoral-zone land:
First, work-out the economic, fundamental-value (or, intrinsic present-value) of the land-parcel in question …
Land Value = (7.72).(Long-term, CPI-Adjusted, median, as expected revenue).(W^2 – 0.36W)
where ‘W’ is the long-term, median weaning-rate.
Then, take-away the Depreciated Relacement Cost (DRC) of the all-things-necessary, Fixed- Assets: of Plant, Equipment, and Infrastructure.
The result is the Unimproved Capital Value (UCV) of Land. This is the number that both Rates and Rent should be calculated upon. IMO
UCV of Land is NOT connected to ‘the Market-Price-Value’ (MPV) of this land.
Challenge away !!