Shocking plunges in land valuations

Locals have been left stunned at the plunges in their annual land valuations, with some properties decreasing between $20, 000 and $30, 0000

LAND VALUE LOSSES: Some locals have seen losses of up to $30, 000. Picture: Liana Turner

CHERYLE Williams and her husband dream of moving to Bribie Island, closer to the beach, and enjoying a more relaxed lifestyle.

But her plans have been halted by a plummet in her annual land valuation, which has dropped the value of her property by $14,000.

Mrs Williams described the drop as "horrendous”.

"I was really disappointed,” she said.

"What we owe on the house is probably more than what the house is actually worth now, and what the land is worth.

"We can't afford to move now.”

Dalby locals received letters this week and were outraged by the results, with some resident losing as much as $30,000.

The State Valuation Service area manager for the southwest region, John Thomas, said the Western Downs was being affected by the aftermath of a resource boom.

"With the resource boom there was supposed to be supply and demand,” Mr Thomas said.

"The levels of value increased significantly over that time.

"As the resource sector, particularly the gas industry, transitioned from desperation development phase into production phase, where there's less people on the ground, the market and the sales have shown a reduction in value.”

Mayor Paul McVeigh urged locals to reach out if they were disappointed or disagreed with their valuations.

"It's important to keep in mind that these valuations are not final and that as a resident you do have the right to object if you feel that your land valuations are incorrect,” Cr McVeigh said.

Melissa Wolski had a $12,000 decrease and said the reasons for the drop were not yet clear to her.

"There's nothing there that I can sort of pinpoint saying why my land would drop so much,” she said.