Valuer-General requested to conduct new land valuation

Lockyer Valley Regional Council has requested the Queensland Valuer-General undertake a new land valuation for the Lockyer Valley.

At its May Ordinary Council Meeting, Council approved a recommendation to request a revaluation, helping to ensure the current economic conditions, market movements and the influence of recent land sales are accurately reflected in property values.

If the revaluation proceeds, it will take effect from 30 June 2026, three years after the last valuation came into effect, Mayor Tanya Milligan said.

“Conducting regular valuations helps minimise unexpected fluctuations in rates and provides ratepayers with greater confidence in the fairness and consistency of their assessment,” she said.

“It is also worth noting that the cost of valuations is about $170,000, and Council must pay this cost annually whether a valuation is conducted or not, which I personally think is highway robbery, so it makes sense to use this money wisely and regularly to get the most up-to-date land values for our community.

“If the Valuer-General decides to undertake the revaluation, the new values will be supplied to us by March 2026 and included within the rates modelling for the 2026-27 Budget.”

The Valuer-General is responsible for determining the value of rateable land and this forms the basis for general rates levied by Council each year. As land values fluctuate over time, the Valuer-General is required to review these valuations annually.

Deputy Mayor and Finance Portfolio Councillor Chris Wilson said as part of this process, Council is consulted to provide input on whether a revaluation should take place.

“Increases in market activity and property prices saw us seek revaluations for 2022 and 2023, and while the pace of sales has stabilised since then, they still remain strong relative to historic averages,” he said.

“In light of this, we’ve requested a revaluation to reduce the chance of large shifts and to create a more predictable and stable rating environment.

“If we don’t do this regularly, undesirable jumps can really blindside and sting our ratepayers, which is what we want to avoid.”

The Valuer-General will consider Council’s feedback, along with legislative requirements and other relevant factors, before confirming whether a revaluation will proceed.