Of note during the year was the impact of a recent amendment to the Valuation of Land Act that resulted in lands currently used for duplex purposes being reduced in value. Previously duplex land was assessed at a higher rate because of the more intensive use of the site. In areas such as Mermaid Beach where residential values are increasing the amendment resulted in no change in value for duplex sites. Mr Cremer said the valuations, which would take effect on June 30 this year, provided an annual snapshot of unimproved land values at 1 October 2000 and reflected the state of the local property market at that time. It's important to clarify some misconceptions about the relationship between valuations and setting of council rates.
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. 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. One notice will be for the standard annual valuation while the other will be identified as a 'Notice of Valuation for Rental Purposes' and will display the amount that may be used by DNR to calculate the State Land rental. Objections can be lodged to valuations within 42 days of receipt of the notices and can be sent to Department of Natural Resources and Mines, PO Box 5096, Bundall 4217.