What's your land worth? New valuations released
RESIDENTS in Tingoora are the hardest hit in the South Burnett by new land valuations with the value of property falling by $9500 in three years.
Queensland's valuer-general Neil Bray said the decrease in valuations in the town reflect the vacant land in the area.
"Small urban centres close to Wondai, including Tingoora, Proston and Hivesville, have all seen decreases, with Proston significantly affected and the median value there falling from $21,500 to $15,000," he said.
Across the South Burnett, the median residential land value has decreased from $54,000 to $46,000 reflecting the subdued demand for residential land across the major centres.
"Residential land values have fallen in centres such as Kingaroy and Nanango, while land values in the smaller villages like Kumbia and Wooroolin remained generally unchanged," Mr Bray said.
The median value of residential land fell by $9000 in Nanango, $8000 in Blackbutt, $7000 in Murgon and $4000 in Kingaroy.
In the Bunya Mountains land is worth $42,500 more than it was three years ago, the biggest growth in the South Burnett region.
The demand for cattle grazing and crop farming land has seen the value of rural land in the region increase by 29 per cent.
Overall, values in the South Burnett Regional Council area have increased by as much as 4.9 per cent since its last valuation in 2016.
Land valuations are used by councils as a guide to determine what to charge in rates, and for state land tax and state land rental amounts.
The valuations will become effective on June 30.
Mr Bray encouraged landowners who believe they have evidence which may alter their new valuation to visit the Queensland Government website and submit it by May 7.
NEW SOUTH BURNETT MEDIAN LAND VALUATIONS
Bunya Mountains $182,500
Haly Creek $4,500