Should I object to my Queensland Land Tax Valuation?
If you do not believe that the valuation received represents the true value of the unimproved land, you should object. There is limited time within which to object. You should be careful to ensure that your right to object does not expire.
Before you object ensure that you have good reason to believe that the valuation is incorrect. A hunch is not sufficient. In some cases you will find that the sale value of surrounding properties can be obtained by an internet search for free. But remember, it is only the land value that is taxed. You should remove the value of the house to arrive at an unimproved value. This can be tricky. You must be prepared to provide proof.
On 1 October 2010 Annual Land Tax Valuation Notices were issued for certain properties in Queensland.
We have not yet seen the issue of any notices for 2011 however we understand that valuations may have been completed in some areas. You should expect to receive those land tax valuations in the new year.
When Joe Riba or our office received his valuation for June 2010 he lodged an objection. The value of the property was reduced by $80,000.00 as a result of the original objection. The objection was however continued as it was thought that the new valuation still did not reflect the true value of the land at the valuation date. The value was further reduced. The new land tax valuation is now $180,000 below the original valuation. In this case it was worthwhile maintaining an objection until a satisfactory valuation was achieved.
The land tax valuation reduction in this case produced a saving of $1,800 per year. (assuming land tax rates remain the same).
Riba Business Lawyers
Strength Through Knowledge
Franchising, Leasing, Acquisitions
Head office: 34 Duporth Avenue Maroochydore, Sunshine Coast.
Maroochydore: 07 54791488
Brisbane: 07 31032115
When is Land Tax Payable?
Land Tax Thresholds Change regularly.
You should contact Riba Business Lawyers to ensure that the rates have not changed since the date of this Post.
For Individual who are resident in Queensland.
| Taxable value | Rate of tax |
| $0–$599,999 | $0 |
| $600,000–$999,999 | $500 plus 1 cent for each $ more than $600,000 |
| $1,000,000–$2,999,999 | $4,500 plus 1.65 cents for each $ more than $1,000,000 |
| $3,000,000–$4,999,999 | $37,500 plus 1.25 cents for each $ more than $3,000,000 |
| $5,000,000 and over | $62,500 plus 1.75 cents for each $ more than $5,000,000 |
For Trust and Companies
| Taxable value | Rate of tax |
| $0–$349,999 | $0 |
| $350,000–$2,249,999 | $1,450 plus 1.7 cents for each $ more than $350,000 |
| $2,250,000–$4,999,999 | $33,750 plus 1.5 cents for each $ more than $2,250,000 |
| $5,000,000 and over | $75,000 plus 2.0 cents for each $ more than $5,000,000 |
Land Tax valuations do not normally include the value of the building. For advice please contact us.
Riba Business Lawyers
Strength Through Knowledge
Franchising, Leasing, Acquisitions
Head office: 34 Duporth Avenue, Maroochydore, Sunshine Coast, Queensland.
Maroochydore: 07 54791488
Brisbane: 31032115
Change your trust to avoid Queensland land tax!
The Land Tax Act 2010 was introduced last year. It will potentially increase the land tax that some owners have to pay even if valuations have decreased! Anyone who has more than one investment property should take care to examine the manner in which their investments are held.The section of the Act to look out for is Section 20.
Accountants and advisors will sometimes recommend to property investors that they consider holding each investment property in a different trust. One reason for having more than one trust is so that land tax is reduced. Until 30 June 2011 this was all that was needed in order to reduce land tax. Land Tax law has changed. Read more 
Land Tax Valuations – watch out! It’s expensive and don’t assume the valuation will be correct.
Could anyone disagree that most property values on the Sunshine Coast Queensland have been in decline for at least the last 2 years? By my reckoning many properties are significantly less expensive than they were in 2007 which was the height of the property boom on the Sunshine Coast. So don’t get slugged for land tax that you don’t owe!
