A major campaign against stealth land valuation legislation in Queensland is currently being waged by the Property Council and Shopping Centre Council of Australia.
In February the Queensland Government introduced the Valuation of Land and Other Legislation Amendment Bill 2010 into Parliament, without industry consultation. The bill, introduced after the Government lost its appeal in the Pacific Fair land valuation court action in late 2009, proposes to change the valuation objection process and allow the inclusion of intangibles such as leases, goodwill, profit and risk - effectively, a step towards improved land valuations.
The impact of the legislation, if enacted, would include:
- Increased land taxes and council rates for property owners
- Pressure on commercial rents
- Crippled small business.
The Property Council and Shopping Centre Council have embarked on a huge lobbying, media and advertising campaign to draw attention to the onerous legislation and convince Government of its folly.
Please return to this page for regular updates on the campaign.
