Land valuations set to rise in 20 mostly rural LGAs

As to how that translates out for people's rates will depend on individual councils and their rating systems.

Among the 20 LGAs to get an increase as part of the 2024 valuations program are Banana, Cook, Isaac, Somerset, Barcoo, Diamantina, Livingstone, Bulloo, Fraser Coast, Longreach, Torres, Bundaberg, Whitsunday, Central Highlands, Goondiwindi and Winton.

Banana Shire mayor Nev Ferrier said ratepayers in his shire did not have to worry about their rates rising.

He said there should not be a huge rate increase as a result of the valuation increases because council would try to keep any increases in line with CPI.

Goondiwindi Regional mayor Lawrence Springborg was of a similar view that there would be no huge rate increases for his ratepayers either because his council averaged and capped rates.

"So, for a lot of rural ratepayers they will probably see rate increases in line with what our average rate increase will be for the year," he said.

"But, we're sitting down and will work through our budget over the next two to three months coming into June, but averaging which we use and capping which we use helps address any situations with regards to the outliers - and, given the number of categories we have in our council area, that means for a lot of our rural ratepayers they'll hardly see a change outside of that average."

Cr Springborg said the increase in valuations appeared to be following the significant and continuing very strong trend in regards to sales and price escalation for properties across the Goondiwindi region.

"This has been going on for a number of years and doesn't show any sign of abating which goes to show the relative strength and confidence, particularly around agriculture at the moment and the land that was being sought after," he said.

A Queensland Resources media statement said continued confidence in the agricultural and resource sectors was one of the key drivers behind the increase in rural land valuations.

Queensland valuer-general Laura Dietrich said in western rural areas, producers were taking a long-term view and competing for properties off the back of a few good seasons and that meant land prices have not dropped.

"In the local government areas we assessed, some rural coastal communities like Bundaberg and Fraser Coast are seeing interest as property buyers look for more affordable locations to live," she said.

"Land valuations provide independent data that underpins decision-making and allows landowners to monitor the changing value of their land."

Ms Dietrich said rates were set by councils when they determined annual budgets, but it was important to stress, valuations were not the only data considered by a council when deciding rates.

"Local governments have wide ranging powers to manage rates, including differential rating, setting a minimum rate, rate capping and the averaging of valuations before rates are assessed," she said.

The date of valuation was October 1, 2023, with valuations taking effect from 30 June 2024.

Valuers within the State Valuation Service are said to undertake extensive research on local property markets, examine trends and sales information for each land use category, inspect recently sold vacant or lightly improved properties, and where appropriate interview sellers and purchasers.