Unlike mainstream Valuers our service extends beyond simply scrutinising land valuations, to the equally critical implementation of those values for calculation of Council Rates and Land Tax. All too often we discover that automated computerised systems do not reflect current or changing circumstances either with the property itself or regulatory rule changes, both of which can lead to excessive property taxes.
In many cases, we also offer FREE Property Portfolio Tax Audits on a NO-WIN NO-FEE basis.
Statutory land valuations issued by the Qld Valuer General are used to calculate council rates, state land tax and state land rental. Most urban lands are valued on a ‘site value’ basis whereas most rural primary production lands are valued on an ‘unimproved value’ basis. The major difference is that site values include land improvements such as clearing, filling, retaining walls, drainage or any other works done to the land that are necessary to improve or prepare it for development. Unimproved values reflect the value of the land in its natural, undisturbed condition.
Over the past decade most Qld Councils have increasing implemented a system of Differential Rating – a regime based on perceived affordability of land use rather than just land value. It is complex, insidious and discriminatory.
State Land Tax regulations are also a maze of taxable value scales, ownership types, threshold limits, averaged values, etc. We offer the expertise to navigate the labyrinth of rules and legislation to ensure our clients are paying no more than their fair share. Unfortunately, many are not aware they are paying far too much.