Mirroring the residential trends, rural home site values have generally remained unchanged. Primary production land values have generally been either maintained or reduced. The limitation of expansion areas and development potential in the cane industry has kept the demand for good 'dry' cane land strong, while farms with working problems are difficult to sell. Individual changes have been made to a number of arable lands to reflect deregulation and local market conditions. Of the 124 local governments in Queensland, there were 37 that had sufficient market movement for new valuations to be issued this year.
Valuations are only one of many guides available to councils.
The actual rate charged is the decision of the individual council based on its local policies and financial requirements for the year ahead. However, valuations are used by the Office of State Revenue for levying land tax. Amendments to the Valuation of Land Act 1944 mean that some landholders who hold land under a lease, licence or permit from the State will receive two valuation notices this year. Objections can be lodged to valuations within 42 days of receipt of the notices and can be sent to the Department of Natural Resources and Mines, PO Box 5318 MC, Townsville, 4810.