Steep increase in Brisbane land valuations

Our valuations came in today. Everything has risen around 10%.

The values placed on the IPs and our own blocks would be probably higher than if we were selling a vacant block. This is Coorparoo.

I think I will lodge an appeal this year. Over the years, we have had some small success with appealing the value (but mostly no success) so it could be time to lodge an appeal this year.

Anybody else seeing such steep rises in valuations?

The government must be really taking it in with the land tax.
 
My Graceville one went from 370k to 520k. Given that I reckon it's worth about 540-560 (in its current dilapidated state) I think it is an excessive rise but at this stage I probably won't object.

My PPOR rose by 5%.
 
You can't have it both ways ;) Yeah! we're riding a (Ka)boom!!! Oh, my land tax bill has come in and I have to pay more :(

If concerned, go onto the OSR website, dig out the comparables which they have used, if they are not comparable then lodge an objection to the valuation with suitable evidence that prices haven't risen by 10%.
 
You can't have it both ways ;) Yeah! we're riding a (Ka)boom!!! Oh, my land tax bill has come in and I have to pay more :(

If concerned, go onto the OSR website, dig out the comparables which they have used, if they are not comparable then lodge an objection to the valuation with suitable evidence that prices haven't risen by 10%.

I do plan on objecting this year. I'm not sure we could actually sell our block of land for its value.

My mother used to object to every increase, and she had a couple of them reduced. I'm going to give it a go this year.

The good thing is our son bought his house for $650K and the value of his land has now risen to $730K. He is happy (but not keen on the rates he will be paying going forward). I'm not sure he could sell his block for that either, but we have a few comparable sales locally so I'm suggesting he object too.
 
Yep some good "growth" across mine too.

One thing I noticed that was interesting, for a couple of my blocks that are 809 that had a sizeable increase in value, 405 blocks in close proximity (between 1-5 doors down) did not increase.

At least it is based on 3 year average.

Times like this it's good to know your structure is solid.
 
Mine went up, so I'm cheering.

Looking to get a few places valued, when are the new land values published? I want to ensure the increased land values are taken into account.
 
Received statutory valuation for ip in kedron, says site value increase from 160k to 260k. 100 grand in 12 months!?!?!?!?

Can anyone explain to me the implications of the statutory valuation? Obviously my land tax and rates will be impacted accordingly. Do property valuers use this as a gauge when conducting property valuations? If no, should I contest this as it is nothing but bad news and basically the government fudging figures to increase the tax?

Thanks
 
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Received statutory valuation for ip in kedron, says suet value increase from 160k to 260k. 100 grand in 12 months!?!?!?!?

Can anyone explain to me the implications of the statutory valuation? Obviously my land tax and rates will be impacted accordingly. Do property valuers use this as a gauge when conducting property valuations? If no, should I contest this as it is nothing but bad news and basically the government fudging figures to iPad the tax?

Thanks

Unfortunately I think this be a typo,

have you not been reading the latest brisbane threads? Cyclones, rain, wind floods, economy in the mud, prices in Qld only go down mate, shocking I know but that's all the noise from our armchair Brisbane experts from down in the south anyway
 
Received statutory valuation for ip in kedron, says site value increase from 160k to 260k. 100 grand in 12 months!?!?!?!?

Can anyone explain to me the implications of the statutory valuation? Obviously my land tax and rates will be impacted accordingly. Do property valuers use this as a gauge when conducting property valuations? If no, should I contest this as it is nothing but bad news and basically the government fudging figures to increase the tax?

Thanks

Very similar to ours in Kedron - 32% increase in one year is stretching reality just a bit - I know prices have gone up but not by anywhere near that much.
 
Even more odd - all land values on one side of the street have gone up minimum 100k - the other side of the street hasn't moved at all.
 
Even more odd - all land values on one side of the street have gone up minimum 100k - the other side of the street hasn't moved at all.

Yes, as if I wasn't paying enough? Time to review the strategy, right?
Yes increases nearly everywhere average 15%!
And yes, even my trusts will now be paying, you are right a lot of new people will be paying for the first time.....
Why aren't the thresholds' moved at least with CPI for the last few years?:rolleyes:
 
so to be clear, does this government land valuation influence property valuation in any way? or is just another way of the government subsidising their own incompetence?
 
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