About statutory land valuations in Queensland

How rural land is valued: unimproved value

The way we calculate land depends on how the land is zoned under a state or local government planning scheme. For most rural land, we determine the unimproved value.

Unimproved value reflects the value of the land in its natural, undisturbed condition. It takes into account surrounding infrastructure and the value of similar rural sales and their respective potential. It is the amount for which rural land could be expected to sell, without physical improvements such as houses, fences, clearing, levelling and earthworks.

Land that is zoned rural under a state or local government planning scheme is valued using the unimproved value methodology.

If your valuation notice shows a new unimproved valuation, the land was valued as rural land.

Note that land zoned as rural-residential or equivalent is valued as non-rural land.

Land that is designated rural (for valuation purposes) will change to non-rural land if, under an approved development application for a material change of use, it is used for an urban purpose.

What does the unimproved value not include?

The unimproved valuation methodology does not take into account the existence of any agreements for leases, development approvals or infrastructure credits and their added value to the land.

How is unimproved value determined?

Rural land is valued like most other land in Queensland, using a mass valuation approach where a representative property is individually valued to determine how much land values for similar properties have changed.

Our valuers monitor the property market, inspecting and analysing rural sales to determine the current unimproved value of land. A valuer may contact a vendor and/or purchaser to ascertain whether or not a sale is genuine or to gain a better understanding of the circumstances of a sale. Sales of property between family members are not assessed when determining values.

Vacant or lightly improved land sales are used to determine unimproved value, where available.

Improved land sales are also used to determine unimproved value for grazing and farming properties. In these cases, the added value of the improvements (if any) is excluded in the analysis of the sale.

Concession when land is used for farming

You may be entitled to a concessional valuation if your land is used for farming.

In this guide:

  1. What is considered when valuing land?
  2. How rural land is valued: unimproved value
  3. How non-rural land is valued: site value
  4. Understanding your valuation notice
  5. How land valuations are used
  6. Why your neighbour's valuation may be different from yours
  7. What to do if you disagree with your valuation
  8. Impact of floods and adverse events on valuations
  9. Privacy and use of information

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