Land valuations rise in McKinlay

QLD Government - McKinlay Media Release (4 March 2020)  |  Statewide QLD Government Media Release (4 March 2020)

Strength in beef commodity prices as well as a low interest rate environment, are key factors that have been identified in the rise of McKinlay land values as the 2020 annual land valuations were released today.

Valuer-General Neil Bray said the valuations reflected land values on 1 October 2019 and showed McKinlay Shire had increased by 32 per cent overall since the last valuation in 2014.

"Land values have generally increased since the last valuation, with some decreases in some market sectors and localities," he said.

"Residential values have fallen in Julia Creek, while industrial land has increased in value.

"The primary production markets have increased in value over the six year period since the last statutory valuation was undertaken, despite the recent drought and flood impacts.

"Some localities such as Julia Creek reflected slight decreases in median values due to a lack of demand for vacant residential land with the median value of residential land in Julia Creek decreasing from $9600 to $9000."

Additional information:

• Rural land values have continued to grow on the back of land owners’ expectations that conditions in agriculture have and will continue to improve, despite the recent prolonged drought conditions.
• In February 2019, the shire was impacted by a flood event, resulting in significant property damage. Where flood coverage has extended to the total land mass of a property, allowances have been recognised for that impact. The allowance is dependant on the severity of the flooding, and is property specific.
• Continued strength in beef commodity prices and low interest rates has resulted in increases in value for grazing lands in rural Queensland.
• North Queensland-Gulf grazing properties are considered to be value for money and demand exists from both farming family enterprises looking to expand; purchases seeking grass and fodder; and corporate purchasers who now see these properties as agribusiness investments.
• Demand is increasing for low cost breeding country to facilitate herd build up and turnoff options for adult cattle. When compared to prices paid in other parts of the State, the Northern Downs, and Gulf grazing lands are being increasingly seen as an attractive proposition.

Landowners who believe their valuation was incorrect and can provide supporting information, can lodge their objection online or at the address shown at the top of their valuation notice by 5 May 2020

For a more detailed breakdown of the McKinlay Shire valuations follow this link. The valuation listing for McKinlay can also be viewed at the McKinlay Shire Council office, 29 Burke Street, Julia Creek during normal business hours until close of business on 2 June 2020.
END MEDIA RELEASE.

The new land Valuation Roll is now on display from 4 March 2020 - 2 June 2020 at the Council Office Reception. This Valuation Roll takes effect on 1 July 2020. Forms for ratepayer objections and guides to the process are also available at Council Reception. Objections to the new Valuation must be lodged by 5 May 2020.

For full details and online forms please visit www.qld.gov.au/landvaluation
If landowners have a query regarding their valuations they can ring 1300 664 217 (found on their valuation notice).