Details
Last Updated: Monday, 05 July 2021 09:22

How and when recent land valuations were calculated

The Department of Resources provides us with land valuations. Department of Resources last re-valued the Toowoomba Region effective 30 June 2021.

 

Does a large land valuation increase mean that my rates will increase by the same amount?

No. The extent that rates may increase is not directly reflective of the percentage increase of the land valuation.  The land valuation is just one factor considered to determine rates.

 

How rates are calculated

The land valuations were used by us to calculate rates for the 2021/22 financial year.

Rates and charges are determined during the annual budget process each financial year. Council adopts this in June for the following financial year. The process includes:

  1. considering the costs of providing an extensive range of services, facilities and infrastructure
  2. determining how to appropriately fund these activities, acknowledging that our primary source of revenue is through rates and charges.

Historically we have used a combination of 'averaging' of the valuation over 3 years and 'rate capping' to help minimise the impact of large valuation increases.

We also use a comprehensive system to calculate rates that recognise the diverse demographics of the region. We consider changes to valuations with a view to minimising the overall impact on ratepayers.

 

Valuation comparison

To compare valuations of the other properties in your area please visit the Queensland Globe website.

 

Objections to valuations

If you object to the valuation of your property, you may wish to lodge an objection with Department of Resources.  Please note objections can't be lodged through us as the land valuations are determined by the Department of Resources.