Western Downs values aligned with Gundy, Maranoa

Western Downs rural land values up, town values down


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A new model of assessing land values in Queensland trialled in the Longreach region during this year's revaluation process will be rolled out across the state's rural local government areas as they come up for review.

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A new model of assessing land values in Queensland trialled in the Longreach region during this year's revaluation process will be rolled out across the state's rural local government areas as they come up for review.

Valuer David Hobbs said they were moving away from a hypothetical best model to a district standard model, and had tested it with a rural assurance program in the Longreach revaluation.

"Amalgamations changed things and we needed to alter the way we were doing things," he said.

In the meantime, there have been some significant rural land value increases around Tara in the Western Downs Regional Council revaluation released last week.

The region's last revaluation was only two years ago but Mr Hobbs said the latest changes brought the region's values into line with Goondiwindi and Maranoa, which had been revalued last year.

The Tara rural market had experienced significant reductions over a number of years thanks to the Global Financial Crisis but the market has rebounded, consistent with similar movements in the neighbouring local government areas of Goondiwindi and Maranoa.

Valuer-General Neil Bray said there had been moderate to significant increases in rural land sales across the Western Downs.

The sales indicated moderate increases in the good quality brigalow and belah, agricultural Kupun and Tuckerang scrub lands near Dalby, box forest and open black soil plain of Haystack and Jimbour, the mixed farming properties around Chinchilla and Miles, and the good quality brigalow and belah scrub lands at Condamine.

The value of rural land across the region increased by 42 per cent.

Mr Hobbs said that rise was similar to rural land across many parts of the state, thanks to strong commodity prices.

Sales of good quality mixed scrub and forest grazing markets in the Wandoan district indicated significant increases in value.

On the other hand, property markets in the centres of Chinchilla and Miles have reduced significantly as a result of the coal seam gas industry transition from exploration and development to production.

This has also resulted in moderate reductions within the town of Dalby, while Wandoan town land values were impacted by the shelving of a proposed coal mine nearby.

Wandoan's residential values are down 39.5pc, those in Miles and Chinchilla have been reduced by 40.3pc, and Dalby's are down 20pc.

Residential values in the village of Brigalow declined 44pc.

Only residential land owners in Moonie have seen an increase, of 47.8pc.

The median value of residential land in Chinchilla decreased from $36,000 to $21,500.

Mr Bray said land valuations were used by councils as a guide to determine what was charged in rates, and for state land tax and state land rental amounts.

These valuations will become effective on June 30 , but landowners who believe they have additional or new evidence which may alter their new valuation have been encouraged to provide this information through the online objections process or at the address shown at the top of their valuation notice by May 7.

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