Member for Nanango, Deb Frecklington is calling on Nanango Electorate residents who own property in the Somerset to check newly released land valuations.
Deb said the Somerset region is one of 20 local government areas across Queensland which are part of the annual land valuation program in 2024.
“I urge landowners to carefully review their valuation notice when it arrives in the mail and consider if they should lodge an objection against their new valuation by the closing date of 27 May 2024,” Deb said.
“The new valuations should reflect the property market on 1st October 2023, the date of the valuation undertaken by the Department of Resources.”
“The Somerset region has seen a 73.4% valuation increase in Primary Production land in the latest review and a 40% increase for Rural Residential land. There have also been some significant increases in median values for Residential land resulting in an overall median value of land being $185,000, an increase of 51.6%.
“All of our townships have seen increases including:
“Land valuations are the basis for rating, land tax and state land rental purposes and the new valuations will take effect from 30th June 2024.
“If you believe your land valuation may be incorrect, I would encourage landholders to lodge an objection. I am aware of some landholders who have saved on their local government rate bills by successfully objecting to an incorrect valuation.
“Objections must be lodged within 60 days from the date of issue and no later than 27 May 2024, with forms found online at www.qld.gov.au/landvaluation, or by calling 1300 664 217,” Deb said.
