Unimproved value
Rural landscape - image courtesy of Tourism Queensland
In accordance with the Land Valuation Act 2010, rural land in Queensland is valued using the unimproved valuation methodology for statutory valuation purposes.
Unimproved value is the amount for which rural land could be expected to sell for without physical improvements such as houses, fences, clearing, levelling and earthworks. If your land has been valued on an unimproved basis, it is either zoned rural (or equivalent) or is designated rural for statutory valuation purposes.
Unimproved value does not take into account the value of:
- any improvements on the land such as:
- site improvements (fill, levelling, clearing, drainage)
- structural improvements (houses, buildings, sheds, fences); and
- the existence of any leases, agreements for a lease, development approvals or infrastructure credits and their added value.
In determining whether land is rural or non-rural, the Valuer-General determines a valuation methodology based on the zoning of the land under a State-endorsed planning scheme, or equivalent local planning scheme. Land which is zoned rural is designated as rural (for statutory valuation purposes) and is valued using the unimproved methodology. All other land is designated non-rural (for statutory valuation purposes) and is valued using site value methodology.
For further information on unimproved value and the determination of rural and non-rural land refer to the valuation resources page on this website.
Last updated 12 March 2012