The Department of Natural Resources and Water (NRW) today released the annual property valuations for Caloundra City.
Caloundra City’s total rateable value had increased by one per cent since the last valuation carried out in October 2004, NRW’s Regional Services Director Brian Vandersee said.
“A valuation increase doesn’t automatically mean your rates will go up,” Mr Vandersee said.
“Rates are based on the services council intends to provide residents and how much revenue it needs to raise to pay for them,” he said.
Average residential land values across Caloundra City have decreased one per cent from $258,724 to $255,332.
Coastal residential land values have generally remained unchanged with increases of 10 per cent for properties fronting the Mooloolah River and minor reductions of 10 per cent for suburbs on the western side of Nicklin Way, including parts of Currimundi, Aroona, Little Mountain, Caloundra West and Meridan Plains.
Residential land values in the hinterland small towns of Landsborough, Beerwah, Glasshouse Mountains, Beerburrum, Maleny and Conondale have generally remained unchanged.
Multiple-unit land values in the Caloundra coastal areas remain unchanged, but increases from 20 per cent to 100 per cent have occurred in the hinterland small towns.
Commercial land values in the main Caloundra central business area and the Nicklin Way commercial precincts have generally remained unchanged, while values for land in the Lake Kawana and Caloundra Road properties west of Nicklin Way have increased by 50 per cent to 100 per cent.
Industrial land values in Caloundra have increased up to 150 per cent in the southern industrial precinct, 20 per cent in the Moffat Beach industrial precinct and up to 65 per cent in the northern Warana industrial precinct.
Commercial and industrial land values in the hinterland small towns have increased up to 250 per cent with the majority of properties increasing between 30 per cent and 50 per cent. The peripheral areas have experienced the largest increases in the hinterland small towns.
Values for rural residential home sites and farming lands have not increased throughout Caloundra City.
“The valuations, which take effect on June 30 this year, provide an annual snapshot of unimproved land values on October 1, 2006 and reflect the movement in the local property market since the last valuation was undertaken,” Mr Vandersee said.
“Of the 124 local governments in Queensland, 38 are having new valuations issued this year.
“Valuations are just one factor taken into account by councils when setting their annual budget and determining rates.
“Councils have wide-ranging powers under the Local Government Act to cap, minimise or average the rates they charge landholders.”
Some landholders may receive three types of valuation notices:
Annual Valuation Notice (Blue)—posted to all landholders showing the unimproved land value as at October 1, 2006. This amount may be used by the local government as one factor to calculate rates and the Office of State Revenue to calculate land tax.
Notice of Valuation for Freehold Land (Brown)—will display the amount that may be used by the Office of State Revenue to calculate land tax. This notice will only be issued when there is a difference in the real property description of the freehold land compared to that shown on the Annual Valuation Notice.
Notice of Valuation for Rental Purposes (Green) — will show the amount that may be used by NRW to calculate the State land rental.
Details of the 1 October, 2006 annual valuation roll of rateable lands can be inspected until 12 April, 2007 at the Department of Natural Resources and Water office, Centenary Square, 52 Currie Street, Nambour, the Caloundra City Council Chambers, Omrah Avenue, Caloundra, or the Maleny Branch Library, 5 Coral Street, Maleny, during normal business hours.
Objections to valuations can be lodged by 12 April, 2007. Objections should be sent to the address shown at the top of the valuations notice. The objection should provide detailed information to support a change in the valuation amount. An objection conference will not be granted unless full grounds are provided on the objection form and the department wishes to clarify a matter.
For valuation and market tables for major residential localities and other valuation information see the department’s website or call the department’s valuations call centre on 1300 664 217.
Source: Sunshine Coast Homes.com