Minor activity in commercial and industrial properties within the shire towns has indicated that these values should not change. Unimproved valuations of some commercial sites that have a frontage to the Warrego Highway have increased by up to 10 per cent. Sales of grazing properties have shown a rise in the market and these unimproved values have increased by 15 per cent. Agricultural properties in the central and northern sector of the shire have had a similar increase in value, while agricultural property valuations in the southern sector have not changed. Mr Cremer said the valuations that 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.
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.