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The new land valuations were issued this month and become effective from 30 June.
Creevey Russell Lawyers’ Cameron Hagan said any objections to the Department of Natural Resources and Mines (DNRM) must be lodged within 60 days of the valuation notice being issued.
“If landowners are not satisfied with their land valuation then the Land Valuation Act allows for an objection with DNRM, provided the landowner has acceptable grounds,” Mr Hagan said.
“The Valuer-General considers sales evidence, the constraint on the use of land and the physical characteristics of the land as some examples that would be considered as acceptable grounds to object.”
Mr Hagan said another factor landowners should consider is the impact of their land tax liabilities to the state government.
“Landowners in Queensland are liable to pay land tax should the total taxable value of land be in excess of the tax-free threshold of $350,000 for companies, trustees and absentees, or $600,000 for individuals,” he said.
“There are exemptions landowners can claim depending on the legal entity that owns the land, including home and transitional home exemption, primary production exemption and charitable institution exemptions."
[Related: The problem with valuations]