Central Highlands, Banana and Livingstone council land value increases

Ratepayers in Central Queensland could face huge rates increases after a state-led land evaluation review revealed increases of up to 178 per cent and the blame game is already underway. SEE WHERE YOUR SUBURB RANKED.

37 Bayview Drive, Lammermoor. Picture: realestate.com.au

Ratepayers in a Central Queensland council area could face huge increases in their next rates notice after a recent land valuation review revealed some suburbs had increased by as much as 178 per cent.

Only some Central Queensland council areas were subject to reviews this year, including Central Highlands Regional Council, Banana Shire Council and Livingstone Shire Council.

One Nation candidate for Keppel James Ashby said the rate increase forced on Livingstone by the valuation review would see residents handing over an extra $13.2 million in rates when they could least afford it.

“Councils have a moral obligation to keep rate increases as low as possible in this cost-of-living crisis, but they have no choice with the state government re-evaluating land every two years,” he said.

However, councils are not forced to increase rates as a result of change in land values, Queensland Valuer-General Laura Dietrich said.

“Other than the provision of independent valuation information neither the department nor the Valuer-General have any role in council rating,” she said.

“Valuations are just one of many factors councils use to determine levels of rates.

“As the Valuer-General, I do not set the market.

“Valuers are required to interpret market evidence and valuations are representative of that evidence.

“The valuers undertake extensive research of local property markets, examine trends and sales information for each land use category (e.g., residential, commercial, industrial and rural), inspect recently sold vacant or lightly improved properties, and interview sellers and purchasers (where appropriate).

“Councils have wide ranging powers to manage rates including differential rating, setting a minimum rate, rate capping and the averaging of valuations before rates are assessed.”

5 Acacia Grove, Lammermoor. Picture: realestate.com.au

The Queensland Government website’s overview on Livingstone Shire’s land valuation states the property market changes are being driven by several major infrastructure projects in the wider region including the Rockhampton Ring Road, Shoalwater Bay Military Training Area expansion, Clarke Creek wind and solar project, Keppel Bay Convention Centre and Rookwood Weir.

United States Marine Corps, 31st Marine Expeditionary Unit (MEU) firing an M777 howitzer during the Exercise Talisman Sabre 2023 firepower demonstration at Shoalwater Bay Training Area, Queensland.

Banana Shire

In the Banana Shire area, Theodore’s median residential land value increased by 178.5 per cent from $7,900 to $22,000; Thangool increased by 80 per cent from $13,600 to $24,500 and Baralaba increased 78 per cent from $11,800 to $21,00.

Meanwhile, Biloela’s median land value decreased by 19.8 per cent from $58,000 to $46,500.

In other areas of land use for Banana Shire, primary production land value increased by 154.5 per cent from $1,996,681,500 to $5,082,020,900 and industrial land value increased by 25.1 per cent from $26,431,400 to $33,067,200.

The median land value for multi-unit residential decreased by 19.9 per cent from $2,707,500 to $2,168,000.

According to the land values website, industrial land recorded a moderate increase due to ongoing activity within the resources industry and expansion of local business.

Meanwhile, primary production land recorded a significant increase driven by commodity prices and favourable seasonal conditions, which positively influenced confidence, particularly in grazing markets.

Central Highlands

In the Central Highlands area, most suburbs have since increases of 75 per cent or more for residential land with Rubyvale at the top in terms of percentage increase with 121.5 per cent increase from $15,800 to $35,000 and the most expensive in terms of dollars is Emerald which did not see an increase or decrease in value.

Meanwhile, primary land also saw a significant increase in Central Highland from $3,492,394,800 to $7,727,886,700 – an increase of 121.3 per cent.

According to the land values website, property market changes within Central Highlands Regional LGA are being driven by the continued confidence within rural industries, particularly the cattle industry. Certain urban markets are being impacted by current economic conditions and high interest rates, and others by an improved resource sector.

Livingstone Shire

While the percentage increase of residential land values in Livingstone are not as high as Banana or Central Highlands, the dollar figure increase is.

At the top of the percentage increases is Farnborough which has seen a 50 per cent increase from $320,000 to $480,000.

Keppel Sands increased by 35.4 per cent from $96,000 to $130,000 and Lammermoor has seen a 29.2 per cent increase from $180,000 to $232,000.

The most expensive residential land value in terms of dollars is Tanby which has seen a 14.5 per cent increase from $310,000 to $355,000.

Meanwhile, primary production land increased 30.1 per cent from $412,984,600 to $537,382,900.