About statutory land valuations in Queensland
Impact of floods and adverse events on valuations
Adverse natural events are regular occurrences in parts of Queensland. When reviewing a valuation due to an adverse natural event, we consider a range of issues, including:
- the use of the land
- whether this type of event has occurred previously and is already reflected in the valuation
- physical damage to the land
- the level, extent and duration of any flood inundation
- the date when the damage or loss of value to the land occurred
- the risk or market perception of the event occurring again
- the length of time before the land can be brought back into full production
- the short- and long-term impacts of the event, including the impact:
- for cropping and other primary industries
- on infrastructure
- evidence including:
- results of physical inspections of the land
- current and historic records, aerial photography, satellite imagery and mapping
- sales evidence of similarly affected lands
- research papers and market commentary.
Because the full impact of adverse natural causes on the market value of land may not be evident for some time after the event, we continue to monitor market movements and adjust valuations accordingly.
If your land has suffered permanent damage
Examples of permanent damage in agricultural areas include a loss in the arable area of a farm, permanent silting of a watercourse or loss of topsoil. In urban areas, examples of permanent damage would be the loss of land from a flooding river or a loss of development potential.
If your land has suffered permanent damage as a result of an adverse natural event, you can either object to the land valuation or apply for a change in valuation. In either case, you should include details of the damage and supporting information such as photographs, maps and diagrams.
Objecting to your valuation
If you received an annual valuation notice this year, you can lodge an objection within 60 days of the date of issue. You can lodge an objection either in writing or online.
Applying for a change in valuation
You can apply for a change in valuation within 6 months of the damage occurring by writing to the Valuer-General.
Post your written application to the Valuer-General at the address at the top of your valuation notice; you can also send or take it to your nearest business centre.