Statutory valuation
The Valuation of Land Act 1944 requires the Department of Environment and Resource Management to undertake the annual valuation of all local government areas.
Statutory valuation is a periodic review of the unimproved value of most land within Queensland.
The valuations are used by :
- local governments as a base for levying rates
- the Office of State Revenue as a base for levying land tax where appropriate on freehold land
- DERM for calculating State land rental
- the Commonwealth Grants Commission to help them allocate federal funding.
Exceptions
The Chief Executive may direct that a valuation not be made :
- because of unusual circumstances (e.g. civil disturbance, extreme climate conditions), or
- after considering factors such as :
- the market survey report for the local government area
- the results of consultation with the local government, appropriate local groups, and industry groups
- the impact on valuations used for land tax or rental purposes
- the time since the last valuation
- the relativity of land valuations in the area with those in adjacent local government areas
- the overall program for annual valuations over the next five-year period.
Through this process a new valuation roll is produced for those local government areas being valued.
Last updated: 16 June 2009