QLD QLD 2022 Land Valuations Are Out

Discussion in 'Property Market Economics' started by gman65, 31st Mar, 2022.

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Do you think your latest valuation(s) seem reasonable?

  1. Yes

    14 vote(s)
    34.1%
  2. No

    4 vote(s)
    9.8%
  3. Above what I expected

    13 vote(s)
    31.7%
  4. Below what I expected

    10 vote(s)
    24.4%
  1. gman65

    gman65 Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,802
    Location:
    Brisbane
    For mine:

    1. Up 9.4%
    2. Up 43%
    3. Up 15.1%

    You should receive them via email or post.

    When their website is updated, you can find out a valuation for your own; or for that matter any address; via the below instantly:

    Find your land valuation | Queensland Government

    Get ready for more in 2023, I think they have come in a bit low for mine. Previously there has been a bit of a lag until they catch up. For me this would result in going from $2800 land tax this year to likely ~$6000 in 2023, and possibly $9500 in 2024. This would be just for 2x Brisbane IP also :eek:
     
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  2. sash

    sash Well-Known Member

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    Sydney
    This is great point.... are you basing this on the new land tax system in Qld...where they look at land holdings throughout Australia?

    I did an estimate on mine...and my rates would jump from 9.5k to something like 22k pa.
     
    gman65 likes this.
  3. gman65

    gman65 Well-Known Member

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    Yep, it's nasty and will catch a few out unless they can wear a lot of extra cost each year.

    That "all of Australia" clause has not come in yet, and presently for me I only own just in QLD.

    However I have sold one this month, largely as I don't want to be paying close to $200/wk in land taxes in a couple of years, among other rising costs/interest rates.

    In future I will look at other States which is probably not a bad idea anyway... Would consider selling/cash out the remaining IP in QLD if they applied the new proposal.

    Good luck to tenants!
     
    craigc and Toon like this.
  4. Foreshadow

    Foreshadow Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    213
    Location:
    Sydney
    1. Up 30%
    2. Up 15%
    3. Up 20%

    Does the threshold scale in QLD? I can't remember.
     
  5. gman65

    gman65 Well-Known Member

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    Brisbane
    No, here it is fixed! Great for Government. Not good for investors...
     
  6. Arthurark

    Arthurark Well-Known Member

    Joined:
    12th Aug, 2021
    Posts:
    440
    Location:
    Australia
    My Logan property is up 10.9%
     
  7. meni

    meni Member

    Joined:
    22nd Apr, 2016
    Posts:
    22
    Location:
    Sydney
    1. Up 20%
    2. Up 26%

    I hope the proposed new landtax laws don't see the light of day!
     
  8. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    2,126
    Location:
    on my way
    Now we are above threshold. I know it’s first world problem :(
     
    gman65 likes this.
  9. ttn

    ttn Well-Known Member

    Joined:
    9th Sep, 2016
    Posts:
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    Location:
    Sydney
    Up 29.5% on LV and do reflect the median price in the suburb too (up 64%) so cant complain :D really
     
  10. sash

    sash Well-Known Member

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    18th Jun, 2015
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    Location:
    Sydney
    If the new Qld land tax gets up.... it should get very interesting on this forum... watch the whoa is me commentary... :p:D
     
  11. AndyPandy

    AndyPandy Well-Known Member

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    Australia
    They can't do it. I refuse to pay
     
  12. sash

    sash Well-Known Member

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    Sydney
    Yes they can.....you can refuse all you want...when you got to sell you will need a landtax clearance...which if you have not paid for 10 years with interest penalties at 8% you would regret your move.

    As I said...color and movement....soon....:p:D
     
    willair likes this.
  13. Tonibell

    Tonibell Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,107
    Location:
    Sydney
    Got an email with $740k for one but through the link above it says $810k.

    Another has $550k on the site where a neighbour sold recently for more than double that - house of little extra value in that case.

    So - we are OK with it.
     
  14. Mulianto

    Mulianto ~~

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    Location:
    Indonesia
    May be they can increase the tax free threshold. 1m per person/entity? :D
     
  15. DoingOK

    DoingOK Well-Known Member

    Joined:
    3rd Jul, 2018
    Posts:
    136
    Location:
    queensland
    I vote for that.

    Mine have gone up lots. I had a hunt on the site and found a couple of mine are very close to the top valuations for their area - even my Ppor but has a much more reasonable number for tax purposes. I think I need to 'live' in my most expensive IP as that will really cut back on land tax. If I change my residential address on my next tax return will that do it? I am in trouble if the do the all of Australia thing - I will just sell and dump even more into shares.

    Another hit for tenants I guess and something else for them to wine about when rents go up.
     
    Coffee likes this.
  16. standtall

    standtall Well-Known Member

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    19th Oct, 2015
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    2,701
    Location:
    Sydney, NSW
    Mine are 30-40% up .. massive land tax bill in the works!
     
    Arthurark likes this.
  17. sash

    sash Well-Known Member

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    18th Jun, 2015
    Posts:
    15,606
    Location:
    Sydney
    This presents and opportunity...units/villas/TH will go next level as less land component.

    But getting the popcorn out for **** show when it starts. People are so naive about property.... they are happy to take the gains but scream when govt claws some of this back. :D
     
    Last edited by a moderator: 1st Apr, 2022
  18. Mulianto

    Mulianto ~~

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    I don’t think they would do the all of Oz thing, it’d be suicide for the Qld government.
     
  19. DoingOK

    DoingOK Well-Known Member

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    Posts:
    136
    Location:
    queensland
    but it's mine, mine, mine I say - 2 year old tantrum now over. Getting to old for this, might just need to bring retirement earlier so i can sit and drink (more) each day.
     
    Last edited by a moderator: 1st Apr, 2022
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  20. wylie

    wylie Moderator Staff Member

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    Location:
    Brisbane
    Hubby is currently contributing $330 per week to land tax and with the increases that jumps to $390 per week.

    We've been weighing up whether to hold 'em or fold 'em and I think this just makes it easier to move part of our "hard earned" into another basket than property.
     
    craigc likes this.