New land valuations expected to boost council revenue by $22m

Land valuations across Far North Queensland have skyrocketed with more than 50,000 properties in Cairns potentially facing a $422 rise, on average, boosting council revenue by $22m. Search the new valuation of your suburb.

The Queensland Valuer-General announced has increased land values by 30 per cent since 2022.

Land valuations across Far North Queensland have skyrocketed with more than 50,000 properties in Cairns potentially facing a $422 rise, on average, boosting council revenue by $22m.

Last week the Queensland Valuer-General announced it had completed assessments and surveys of Cairns and Cassowary Coast properties in the first update of land valuations since 2022.

The Cairns LGA revaluation included 57,377 properties with suburbs such as Babinda (40.2 per cent), Aloomba (50 per cent), Kewarra Beach (40.8 per cent), Palm Cove (50.8 per cent) and Trinity Park (43.8 per cent) increasing significantly.

Based on the previous median land value for the Cairns LGA being $225,000, the new median value of $295,000 equates to an increase in differential general rate revenue of an estimated $22,950,800 — or an increase of $422.94 on an average property.

Urban Development Institute of Australia Cairns branch president Nathan Lee Long said the latest land audit increased land values by 30 per cent since 2022.

“In Palm Cove we see higher increases in value where there is limited land availability with high land sale prices,” he said.

Property owners are expected to receive new land valuation notices after June 30. Picture: Marc McCormack

“Increases are based on a number of factors, it may be an area where little land was sold and in recent times there has been some activity or if there has been recent sales where previously there had been few, the value of the sale would impact the increase.”

Amid a cost of living crisis and 6.7 per cent Cairns Regional Council hike in rates this financial year, Mr Lee Long raised concerns that for the first time government land valuations appeared to reflect private market rates.

From June 30 property owners will receive new land valuation notices.

Cairns Regional Council has stated an increase in land value of 30 per cent does not directly translate to the same increase in rates.

“As part of the budget setting process council will review its rate charges as we do every year,” the websites states.

“We know we are all facing cost of living pressures and it is more important than ever to balance affordability and the need to generate revenue to maintain the lifestyle we all enjoy.”

Council was asked if rates would increase and how additional revenue would be allocated, however a spokeswoman declined to indicate how increased land values would impact residential rate levies.

“Council will make appropriate adjustments as part of its Budget to reduce the impact of this. 2025/26 Budget deliberations are ongoing, and outcomes will be known when Council hands down the budget at the end of June,” she said.

On the Cassowary Coast the revaluation included 15,165 properties including El Arish and Silkwood where there was a change in median value from $31,000 in 2021 to 62,000 which equated to a whopping 100 per cent rise.

While the valuation itself does not set rates, local councils use the figures to calculate annual rate levies.

This was a major concern of Silkwood cane farmer Charles Speziali.

“That equates to $4 a tonne of sugar cane if we have to pay that it will send us broke,” he said.

“They are overcharging us, how can something go up 100 per cent.

“And the roads are a bloody disgrace, and they try to blame the latest weather event but they have been like this for a couple of years at least.”

The 68-year-old grower farms 121ha and produces in an average year 10,000 tonnes of sugar meaning he expected the revised land valuation at Silkwood to increase his rate bill by thousands.

To dispute a Queensland land valuation, landowners must lodge an objection within 60 days of the valuation notice issue date and provide evidence to demonstrate the valuation is incorrect.

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Originally published as New land valuations expected to boost council revenue by $22m