The Valuer-General through the Department of Natural Resources & Mines (“DNRM”) issued Annual Land Valuation Notices (“Notice”) on 2 March 2016 for various local government areas including Brisbane City Council, Gold Coast City Council, and other centres in Queensland.
All property owners, including bodies corporate, will need to determine whether or not they are satisfied with the new valuation contained in the Notice. As well as a basis for rates charged by the local authority for the property, the valuation will also be used to assess the Land Tax payable by the property owner.
An increase in the valuation amount can therefore have important consequences, particularly for body corporate managers, institutional property owners, large property portfolio owners, and property developers who hold land in anticipation of future development.
A property owner that is concerned about the valuation contained in the Notice should urgently obtain an opinion about the value of the property.
ClarkeKann can arrange the engagement of a valuer to provide a preliminary advice about whether or not it is worth challenging the Notice.
There are strict time limitations that apply when challenging a valuation.
That first step is to lodge a Properly Made Objection and the key elements that must be met are as follows:
DNRM will undertake a review process and issue a written decision (typically within 60 to 90 days from the date of lodgement).
If the owner is not satisfied, then they have a right to lodge an appeal with the Land Court. The appeal must:
DNRM will provide an opportunity for both parties to the objection process to select a Chairman from a DNRM approved panel of “Independent Chairpersons” to mediate between and meet with the parties, after an exchange of reports and expert evidence, in an attempt to reach a negotiated resolution. It is a process that is optional at the discretion of the property owner.
It is also a process that is very similar to the process initiated by the Land Court once an appeal is lodged. It is strongly recommended that property owners seek professional advice before committing themselves to an Independent Chairperson Conference offered to them by DNRM as an alternative to the dispute resolution processes available through the Land Court.
ClarkeKann has the specialised knowledge, a track record in dealing with complex property issues, and the necessary familiarity with the legal processes
involved in challenging a DNRM valuation.
Please contact us urgently if you are concerned about a valuation that you have received.
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