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The Village Pump 17/05/24

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PUMP

The Samford Progress Association’s free community newspaper printed continuously since 1977.

The ILLAGE

@TheVillagePumpSamford

“Your Community Newspaper, owned by the Samford Community and produced for the benefit of the Samford Community.” 17 MAY 2024

P: 0477 663 696 E: editor@villagepump.org.au NEXT DEADLINE THURSDAY 23/05/2024

HAVE YOUR SAY ON NEW LAND VALUATIONS It was a packed Samford Community Hub on Wednesday 1 May when the SDPPA hosted a community meeting after numerous concerns were raised about the recent Land Valuation notifications. More than 95 residents attended the meeting to hear from SDPPA President Leah Hudson and Closeburn resident Neil Murphy from Savills Australia, as they addressed community concerns about inaccurate statutory land valuations and unrealistic increases. Councillor Darren Grimwade was invited to assist with understanding how this will affect our rates and Neil, a passionate local valuer and specialist in statutory land valuations, assisted attendees with how to object to their valuations if required. After a comprehensive presentation, Leah Hudson reiterated the importance of individual property owners submitting an objection on their own behalf in order to seek a review of their valuation. The SDPPA is unable to request or lobby for a bulk review of the area despite attempts to do so with the Valuer General. Most homeowners were concerned about an increase to their rates. Cr Grimwade provided

an overview of the relationship between Qld Government land valuations and City of Moreton Bay rates (COMB). He confirmed that land valuations do not specifically dictate the rates set by the COMB, they are just one part of the equation. Rates increases are currently capped at 9% and there have been no increases to rates for three years. The assessment methodology uses inflation as the starting point. Land valuation increases are then considered, and where land valuations in our area have risen by 35% for example, residents can expect a rate increase on average of 5 or 6% in the next financial year. Where they have increased above this average, residents can expect their rates will increase up to the capped amount of 9%. An increase to 200% is likely to receive a 9% rate increase applied. Cr Grimwade said that flood affected properties have no rating category applied because the land

value is likely to be less than the average non-floodable land. Please be aware that objections concerning current land valuations are not processed through the COMB. It was also noted that there could be potential land tax implications for inaccurate valuations for investment property and commercial property owners. Neil Murphy informed the meeting that objections to land valuations across Queensland need to be lodged through the QLD Government Department of Environment, Land and Water by 27 May 2024. He said valuations are used for rates but are not a determinant of a property’s market value. Neil provided information that may support an objection to the current land valuation, such as considering if your property has an environmental overlay on it (such as fire), comparing your property to others of like description that have sold in your area, what area of your property is useable, and are there restrictions to what you can use your land for. The SDPPA presentation included tools, information and documents to assist owners to make an objection. These are available on the website. https://samfordprogress.org. au/land-valuations/

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The Village Pump 17/05/24 by The Village Pump/Samford Progress - Issuu