About land valuations in Queensland
Why your neighbour's valuation may be different from yours
Differences in valuations between neighbouring lands are common. Here are some of the reasons why your neighbour's statutory land valuation might be different from yours.
Valuation methodologies
If you live in a rural area, it is possible that your neighbour's land was valued using a different methodology to yours. For example, your land may be non-rural land and valued using site value, while your neighbour’s may be rural land and valued using unimproved value.
Physical attributes
Your neighbour's land may have different physical characteristics that affect its value. For example, your neighbour's land might have poorer views, steeper topography or inferior access.
Constraints on the use of the land
Land adjoining your land may be subject to different constraints as a result of local government planning schemes, encumbrances registered on title and other legislation. For example, your neighbour’s land may have a registered easement, be subject to flooding or have vegetation clearing restrictions, all of which can reduce the value of the land.
Land use
Your neighbour's land may be used for a different purpose to your land (e.g. residential vs commercial use) and so will have a different land value.
Concessional valuations
In some circumstances, concessional valuations provided for in the Land Valuation Act 2010 may have been granted that reduce the statutory value of the land.
In this guide:
- What is considered when valuing land?
- How rural land is valued: unimproved value
- How non-rural land is valued: site value
- Understanding your valuation notice
- How land valuations are used
- Why your neighbour's valuation may be different from yours
- What to do if you disagree with your valuation
- Impact of adverse natural events on valuations
- Privacy and use of information