CRISP Valuation Services

2012 Annual Valuations

Posted by Stuart Cameron on 31 March 2012 | 0 Comments

On 28 March 2012, the Department of Environment and Resource Management issued its Statutory Land Valuations (based on Site Value) as at 1 October 2011 for more than 1.6 million properties. These valuations take effect from 30 June 2012 and are undertaken in accordance with the Queensland Valuation of Land Act 2010 and are used by local authorities as the basis for assessing rate charges, as well by the Office of State Revenue for assessing Land Tax.

The Department of Environment and Resource Management has also produced a Market Movement Report which may be found at the following web address.

http://www.derm.qld.gov.au/property/valuations/pdf/vgmarketreport.pdf

If you feel the Site Value assessed by the Department of Environment and Resource Management is incorrect, the land owner has a period of 60 days to lodge an objection. The final date to lodge an objection is 25 May 2012. This objection must be "properly made" as determined by the Valuer General.

If you require any assistance to prepare and lodge your objection, or even seeking some advice as to if there may be a case able to be supported by lodging an objection, please feel free to contact me. We have a two stage fee whereby, intially we charge a fee to undertake a desktop audit of your property and assess/analyse the surrounding sales, and the second party of the fee would be if we felt there to be grounds for an objection, a fee is payable for the prpeapation and lodgement of the objkection form on your behalf.