New primary production land valuations in 21 of Queensland's local government areas are reflecting ongoing confidence in the rural economy, despite prolonged drought conditions.
Notices to landowners in the Goondiwindi, Scenic Rim, Banana, Livingstone, Rockhampton, Mackay and Cassowary Coast regions, as well as a number of north west council areas, were among 14,879 updated valuation letters issued this week throughout rural Queensland.
In the south of the state, the largest valuation increase will be felt by landholders in the Goondiwindi Regional Council, who will have to absorb the impact of a 37.9 per cent rise.
Similar shocks will be felt in the Fraser Coast Regional Council area with an increase of 44.3pc, in the Bundaberg Regional Council where there is a rise of 46.6pc, and in the Winton Shire Council, where land values have risen 55.3pc, the highest in the state.
Also in the north west, rural land values have risen by 35.9pc in the Richmond shire, by 35.1pc in the Flinders shire, and by 32.9pc in the McKinlay shire.
In the Burke shire there has been a 31.5pc rise, in Mount Isa City the rise is 31.8pc, and in Cloncurry the increase is 29.3pc.
In Cloncurry, an over-supply of housing through an asset disposal plan has contributed to a 58.3pc reduction in residential values and an overall decrease in valuations of 10.6pc since the last valuation in 2016.
Banana Shire landholders have an increase of 26.3pc while rises of 10.3pc and 10pc will be felt by Livingstone Shire and Rockhampton Regional Council producers respectively.
In the Scenic Rim there's an increase of 11pc, in the Mackay region that's 24.9pc, and for the Cassowary Coast Regional Council, valuations are up by 19.6pc.
The increases can be attributed to the continued effects of strengthened beef and wool commodity prices plus low interest rates, according to Queensland's Valuer General Neil Bray.
He said that despite the years of drought and once-in-a-generation flooding, fundamental industry positives and consistent land sales had seen rural land valuations in parts of the state increase significantly.
Rural land sales have shown significant increases in value throughout the larger mixed brigalow farming and irrigated floodplains in the locality of Goondiwindi, and to the west in the North Talwood locality.
Mr Bray said areas of the Winton shire were subject to the fringe of the significant rain event that caused major flooding to northern local government areas.
"The impact in Winton was less severe and while there were some stock losses, the event was generally beneficial," he said.
In addition, a full market-based review of rural valuations was undertaken with the Winton shire to improve the consistency of valuations.
State Valuation Service area manager David Hobbs said year-on-year market surveys hadn't supplied a volume of sales with which to review values in the Winton shire, but the Valuer-General didn't want to leave revaluations any longer.
"It's been a slow burn," he said. "The valuations are part market catch-up as well as property price increases in the last 12 months."
When compared to prices paid in other parts of the state, the north western Mitchell grass downs are being increasingly seen as an affordable option.
Lodging objections
Valuations are used to determine land tax, the rental price for leased state land and by local councils to help determine rates.
Mr Bray said landowners who believed their valuation was incorrect, and could provide supporting information, should lodge their objection online or at the address shown at the top of their valuation notice by May 5.
For landowners without internet access, an objection kit that includes a step-by-step guide can be sent out by phoning 1300 664 217.
Landowners can access the latest valuation data using the Find your annual valuation online search available on the Land Valuations website.
Queensland Globe also gives landowners access to more detailed valuation information allowing users to search for a property or pan the map to areas of interest and zoom down to individual property level.
A rural sales map for larger rural shires is also available online and at selected locations to assist landowners - allowing landowners to compare their valuations with others in their area.
Hard copies of the valuation list can be viewed at Department of Natural Resources, Mines and Energy business centres and local government offices during normal business hours until June 2.