Sunshine Coast Council addresses rate rise fears after land values soar
Sunshine Coast homeowners hit with some of the steepest land value increases in the state earlier this week have been reassured by council a “majority” of ratepayers will see no change.
Sunshine Coast
Don't miss out on the headlines from Sunshine Coast. Followed categories will be added to My News.
Sunshine Coast homeowners sobered by soaring land valuations threatening to hike up rates have been reassured by council a “majority” of owner occupiers will remain on the general rate.
The land valuations for 2024, released by the Valuer-General earlier this week, showed the median increase in land value on the Sunshine Coast had risen by 36 per cent over two years.
The substantial increase outpaced the Gold Coast region, which has risen 25 per cent on average.
The valuations reflect property market changes in local government areas, which for the Sunshine Coast region is heavily impacted by population growth and a proposed new planning scheme.
The region’s hinterland suburbs have seen some of the largest jumps in land value as demand increases for lifestyle properties, according to the Valuer-General.
Kenilworth had the largest increase in land valuation, rising by 87.7 per cent from a median of $162,000 in 2021 to $305,000 in 2023.
Coastal suburbs, Buddina and Shelly Beach, both joined Minyama hitting the $1m mark.
A Sunshine Coast Council spokeswoman said the use of the land and the funding the community needs for facilities and services are also factored in when determining rates in the council’s annual budget.
The spokeswoman said most landowners in the region will continue to pay the minimum general rate, which currently sits at $1406.50.
“Council undertakes extensive rate modelling to limit the increase in rates that would otherwise arise because of the valuation changes,” the spokeswoman said.
“The majority of owner occupiers will continue to pay the minimum general rate within the region.”
The spokeswoman said a large increase on land value did not directly result in a rates increase for that area.
“Extensive rate modelling is undertaken to minimise the impact of large increases in land valuations on the general rate charged. Eg the fact that an individual suburb saw an average increase in land value of 70 per cent does not translate to a 70 per cent increase in the general rate for properties in that location.”
The new land valuations will take effect from June 30, 2024.
David Crisafulli declares he will fix the Bruce Hwy
David Crisafulli has declared, responding to a question from a Courier-Mail reader, that if the LNP wins goverment at the October 26 election, he can get the Bruce Hwy fixed.
Man’s watch-house drug deal fail for biscuits foiled by cops
A block layer who was placed in a Sunshine Coast police holding cell has had his secret prescription drug trade thwarted by eagle eyed watch-house officers.