Land valuations increase by 13.6 per cent

Logan City Council treasurer Trevina Schwarz has assured ratepayers they would not be forking out for a double digit rates’ increase, despite the significant increase in average land valuations throughout the region.

Land values have increased by 13.6 per cent across the City of Logan.

Land values have increased by 13.6 per cent across the City of Logan.

Cr Schwarz said she expected any rate increases to be fewer than 10 per cent despite land values having increased by 13.6 per cent since 2015.

Residential land now had a median value of $220,000 – an increase of 18.9 per cent,  while rural residential land had increased by 15.1 per cent to $305,000.

Cr Schwarz said there were many other factors that contributed to rates rises and they would be discussed during budget planning.

“We recognise residents are not bottomless pits and we keep our rises to as close to CPI as possible,” she said.

“The increased valuations certainly won’t be a reflection of what a potential rates increase could be.”

Cr Schwarz said the valuations showed residents had made a wise decision to invest in the region.

“This is a fantastic turnaround as many ratepayers expressed concerns about the valuations undertaken in 2012, which saw land values sink by 5.2 per cent, followed by a further loss of 1.2 per cent in 2013,” she said.

“It’s good news for our local community and economy, and it supports what council is doing across the city to shift some entrenched barriers.

“More people are choosing to relocate to communities like Jimboomba, Greenbank and growing centres like Flagstone and Yarrabilba because they are rural-residential areas that offer great lifestyle.

“They’re starting to see some positive growth in their property values.” 

Cr Schwarz said ratepayers should be aware that the state government issued valuation notices were not rates notices.

Land valuations are determined by the state government through property market research, trends and sales in each land use category, present land use and zoning as well as physical attributes and constraints on land.