Land Valuations Reflect Region's Strong Growth
The Scenic Rim is one of 19 Queensland local government areas whose land valuations have increased, driven by population trends and improvements in the Queensland economy and the property market.
The new valuations, released this week and taking effect on 30 June this year, followed a statewide market survey and consultation with local government and industry groups.
Scenic Rim Mayor Greg Christensen said he was encouraged by the Valuer-General's Property Market Movement Report which placed Scenic Rim among 12 local government areas whose land values had increased overall by more than 10 per cent in the 2018 valuations.
"The overall percentage movement of 17.3 per cent for the region is more than double the statewide change, which shows the significant turn-around we've experienced since 2015," he said.
"At that time, Scenic Rim valuations had dropped by 6.6 per cent, compared with an overall increase of 5.6 per cent statewide.
"That was a deciding factor in my running as Mayor in the 2016 local government elections because I was so concerned about what declining values said about the future of our region.
"The reversal of that, through the independent assessment of the Valuer-General, is gratifying for me and should be seen as a positive by the community because it signals the strong growth of our region, its nett worth and its economic prospects."
The Scenic Rim was among the 22 local government areas to receive new valuations in 2018, in line with the Land Valuation Act.
"As we all understand, land valuations are a primary reference point for rates allocations," Cr Christensen said.
"I am glad we have this information in time to give consideration to the possible rating outcome impacts for those who have seen significant changes in land valuations."