QLD land valuations put today

[Bran]

2015 land valuations were released today - My cairns house had its SV increased 17%, and Brisbane 6%.

But what does this mean to me, and What effect does this have, if any, apart from increased rates?

I bet my reveals last week would have been different this week, although neither were desk revals.

Is there any flow on to resale value or any benefit of this at all? Should I cheer, cry or remain ignorantly ambivalent.

B

 

[chindonly]

+ more land tax for those of us over the threshold.

 

[hugh72]

+ more land tax for those of us over the threshold.

That's what I was thinking

 

[Gentle_Chief]

Cairns has not seen any real capital growth in the last 5-7 years.
Correct me if I am wrong?

 

[hugh72]

Cairns has not seen any real capital growth in the last 5-7 years.
Correct me if I am wrong?

Correct but it has just past previous 2007-8 highs and is now grinding higher(houses only) with the low AUD the tourism industry has improved and the population is growing. Vacancy rates fairly low and yields strengthening. Under water if you consider inflation though

 

[Scott No Mates]

But what does this mean to me, and What effect does this have, if any, apart from increased rates?

I bet my reveals last week would have been different this week, although neither were desk revals.

Absolutely no effect on your valuations.

Depending upon how much you own, you may be lucky enough to have to pay land tax.

 

[Bran]

Dammit. I do, but perhaps should have been paying it all along.

Interestingly, I just jumped on onthehouse.com.au to remind myself of the SV ballpark. The estimated price on my Cairns house has gone up 10% since I checked last week. What do they know that I don't? I hope it's accurate


Edit: Oh, and my Brisbane house has gone down. Oh well.