New land valuations for property owners released 31 March show Ipswich properties have increased by 23 per cent overall since the last valuation was issued in 2019.
The Valuer-General released valuations for 82,349 properties with an overall value of $22.4 billion, which is up from $18.2 billion.
Ipswich Mayor Teresa Harding said while it was positive to see the city’s properties growing in value and increasing equity for property owners, it makes no sense to those with flood impacted properties.
“Across Ipswich there has been quite a level of variability of the valuations with changes from decreases of 10 per cent to increases greater than 40 per cent,” Mayor Harding said.
“Overall, Ipswich has seen its property values grow by an average of 23 per cent. However, this will be cold comfort to those who are still cleaning up from the floods.
“Our hardest hit flooded suburbs have all had increases – Goodna averaged an increase of 19 per cent, Bundamba a 26 per cent increase and North Booval increased by 20 per cent.”
Mayor Harding speaking with a 2022 flood-impacted resident in Goodna.
“After the 2011 floods and Cyclone Yasi, the Queensland Government held back valuations for flood impacted properties to allow them to be properly assessed,” Mayor Harding said.
“The State should be applying a common sense approach here, as seen after past disasters, to ensure flood impacted families don’t wear the financial burden for this decision.
“A land valuation may be amended if land has been permanently damaged by flooding, and I urge you to contact the Valuer-General to apply for a change in valuation if you think this might apply to you.”
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Governance and Transparency Committee Chairperson Councillor Jacob Madsen said valuations aim to reflect market value and are used by council as a factor in determining rates.
“This range of valuations movement makes the process of council setting rates more challenging but while the valuations have gone up, this does not mean that rates will go up at a similar level,” Cr Madsen said.
“Council will be working hard over the coming months to deliver the 2022-2023 budget that includes rating policies that minimise impact of these valuations changes for ratepayers.
“Council has several tools available to it under the Local Government Act to help cushion the impact of valuation changes for residents and business, these include rate capping and valuations averaging, however valuations still form the primary basis of rating for all local governments.”
Personal Hardship Grants are available through the jointly funded Commonwealth-State Disaster Recovery Funding Arrangements for eligible flood-affected residents in Ipswich.
- Emergency Hardship Assistance Grant
- Essential Services Hardship Assistance Grant
- Essential Household Contents Grant
- Structural Assistance Grant
- Essential Services Safety and Reconnection Grant
Part of a sports club or organisation? The Sport and Recreation Disaster Recovery Program supports not-for-profit sport and recreation organisations with funding to re-establish facilities and activities after extreme natural events.
Funding of up to $20,000 may be available for eligible sport and active recreation organisations located in areas declared under the Disaster Recovery Funding Arrangements (DRFA).
For more information, visit www.qld.gov.au/recreation/sports/funding/disaster-recovery
If you have been impacted by the flood or have been helping others and need emotional support, it can be accessed through Lifeline’s crisis support by calling 13 11 14.
The Ipswich Flood Recovery information webpage can be accessed at Ipswich.qld.gov.au/floodrecovery
A range of support and information is also available for Ipswich businesses impacted by recent rainfall and floods.
Visit Business Ipswich for information to help you get back on your feet.
Read also:
>>> Rate relief for flood-impacted Ipswich residents and businesses
