Land that is zoned rural is valued using the unimproved value methodology.
Unimproved value intends to reflect the value of the land in its natural, undisturbed condition.
It is the amount for which rural land could be expected to sell for without physical improvements such as houses, fences, clearing, levelling and earthworks.
Basically, your property as a bare block, with relevant laws in place that you can develop (such as vegetation laws), less cost of improvements at a depreciated rate.
The Queensland Department of Resources has records of your property and every other rural property in the state. These records note the physical characteristics and the productive capabilities of the property:
- Physical characteristics: The positives and negatives of the property’s (for example access, weeds, distance to town). It is important to check that the Department has made adequate allowances for negative physical characteristics, such as weeds and bad access etc.
- Country classification: What land types are on your property, including, the approximate area of each land type with the selected area. Land types are areas of grazing land with similar soil, vegetation and capacity to produce useful feed (see image for an example). The areas of remnant vegetation should also be included in your country classification.
If the Department has got your physical characteristics and country classification wrong, it could mean your valuation is too high and you are paying too much in rates and if you are leasehold, rent!
How do you check and get your country classification and physical characteristics right?
Your country classification can be requested from the Department of Resources at any time. Email your nearest valuations business centre and request your unimproved valuation country classification. Include your Lot Plans and Property ID as the reference (this information is on your valuation notice) to make identification easier.
Also, talk to your local department valuer and check the department has made adequate allowances for negatives of the physical characteristics, such as weeds and bad access.
Map the land types on your property and make sure the Department country break is accurate compared to how you think your property’s land types should be mapped.
You can also check your valuations and how they compare to surrounding properties using the Queensland Globe.
AgForce has the expertise to assist you in mapping out your property and making sure the breakup is correct.
If you think the property records are not accurate or your valuation is incorrect, email firstname.lastname@example.org, or phone (07) 3236 3100 to request property-specific advice.