Lockyer Valley Regional Council look to limit ‘rate shock’ after Valuer-General’s land valuations released

Flood-wrecked suburbs across the Lockyer Valley have seen land values skyrocket, with council revealing how rates will be affected.

Lockyer Valley Regional Council has committed to minimising “rate shock” to residents after land values spiked in some flood-hit suburbs.

The state government’s Valuer-General land valuations report was released last week, which saw land values in the Lockyer Valley local government area increase by 20.3 per cent in the 12 months to October 1, 2021.

However, since that date, some of the suburbs that recorded the biggest increase in value were devastated by flooding in February.

Median land values in Grantham, one of the hardest hit suburbs, climbed 60.7 per cent, while Flagstone Creek saw median land values rise by 60.7 per cent, Withcott 40.3 per cent and Gatton rose by 19.6 per cent.

Australian Army soldiers from 2nd/14th Light Horse Regiment (Queensland Mounted Infantry) assist the local community of Gatton, Queensland with removing flood-damaged belongings, as part of Operation Flood Assist 2022.

Lockyer Valley Regional Council finance portfolio councillor Chris Wilson said while some flood impacted suburbs saw a land value increase, it wasn’t uniform across the board.

“Other suburbs affected by both flood and fire events such as Laidley have experienced a 0.32 per cent decrease,” he said.

“It is important to note that these changes are not indicative of the changes to rates.”

Mr Wilson said Lockyer Valley Regional Council would be evaluating the changes and variations across the region and working to develop a revised rates model.

“As a council, we are committed to minimising rate shock wherever possible, the importance of which is further emphasised as a result of the recent flooding event,” he said.

“A land valuation may be amended if floods, fires or other natural causes over which the landholder had no control, causes the land to be permanently damaged.”

Residents can challenge a valuation by writing to the Valuer-General.