Each year, the Valuer-General reviews land values in selected local government areas around the state. These land values are just one of the many factors used to calculate local government rates, as well as state land tax and state land rental for leasehold land.
Queensland’s annual land valuations also provide valuable information about the property market, and allow you to monitor the movement in the value of your land. Our valuers research the property market, examine trends and sales information, inspect recently sold vacant or lightly improved properties, and consider the land’s present use and zoning, physical features and other land-use constraints.
The way we calculate land value depends on how the land is zoned. For most land zoned as rural, we determine the unimproved value. Unimproved value is the value of the land without any improvements, such as houses, fences, clearing, levelling or earthworks. It’s the value of the land in an unimproved state.
For non-rural land, including rural-residential and some rural land, we determine the site value. Site value is different to unimproved value, as it takes into account the value of improvements that prepare the land for development, such as filling, clearing and drainage works.
The value of structural improvements, such as houses, buildings and fences, are not considered when valuing the land.
Remember, it’s a valuation of the land only—not the value of your house or other structural improvements. Rather than waiting for your land valuation notice to arrive in the mail. Go online to Find your land valuation.
You can also sign up to receive it by email. It’s quick and easy—visit our website and sign up today.