New land valuations in 2012

QUEENSLAND Valuer General Neil Bray has announced that landowners in all rateable local government areas will receive new land valuations in 2012.

Mr Bray said up to 1.6 million land valuations would be issued to landowners in the Central Highlands and elsewhere before March 31, 2012.

"All of Queensland's 58 rateable local governments will be valued as at October 1, 2011, becoming effective for local government rating, state land tax and state land rental purposes on June 30, 2012," Mr Bray said.

"As all local government areas were revalued in 2011, the 2012 valuations will reflect any variations that have occurred in the 12 months since the last valuation."

Mr Bray said the decision to value all of Queensland's rateable local government areas was made after consulting with local governments, local groups and industry stakeholders and evaluating statewide market analysis.

"With the exception of areas influenced by the growth associated with the resources industry boom, the Queensland property market over the past 12 months has been generally subdued with the volume of sales recorded with the Registrar of Titles at its lowest level over the past decade," Mr Bray said.

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