Revaluations mean rate rises
GLADSTONE and Calliope residents have been warned to prepare themselves for a steep rise in their land valuation.
Natural Resources and Mines valuations area manager John Thomas said valuers were currently revaluating unimproved capital values (UCV) for Gladstone and Calliope properties. Mr Thomas said Gladstone had not been revalued since 2002.
Local councils use UCVs to help determine annual rates. Mr Thomas said residents should not fear increases in their property values.
"We're still in the throes of looking at how significant these changes are,'' Mr Thomas said.
"Hopefully they will be significant.''
He said while an increase in valuations could result in an increase in total rates paid, it was not an automatic result. Gladstone City Council chief executive officer Julie Reitano said the council was investigating changes to its rating system.
Unlike some councils, Gladstone does not have a capping system in place to limit the effect of valuation changes on individuals.
While coastal areas had led the increases in property values, Mr Thomas said rural areas could also expect hefty increases.
"Confidence in the cattle market is high despite the present dry conditions and property sales are still occurring,'' he said.
"The demand for properties continues to be very strong. "The pastoral market is being dominated by experienced pastoralists expanding their holdings.''
Mr Thomas said the revaluations formed part of an unprecedented revaluation of 94 shires of the state's 124 shires.