Council say a substantial rate rise will not be on the horizon
By Sonia Isaacs
COUNCIL say they are committed to keeping rate rises as small as possible following news that local land valuations had skyrocketed over 30 per cent. A Sunshine Coast Council spokesperson said land valuations were only one of the factors considered by Council when setting rates and charge.
The spokesperson said there were several considerations involved including an assessment of land use and response to the funding requirements of the community to deliver the service, facilities and activities they require.
“Council undertakes extensive rate modelling to limit the increase in rates that would otherwise arise because of the valuation changes,” the spokesperson said.
Currently, property owners are allocated to one of 49 rate categories within the Sunshine Coast Council Differential Rating Scheme.
“The majority of owner occupiers will continue to pay the minimum general rate within the region,” the Council spokesperson added.
Council advised the most recent region-wide land valuations occurred in 2019 and 2022.
“The Department of Resources determines when land valuations will occur based on a range of metrics related to the property market,” the Council spokesperson said.
For the Sunshine Coast Regional local government area (LGA), the 2024 revaluation included 114,389 properties, with a total value of $70,997,462,500, an overall increase of 36 per cent since the last valuation issued in 2022. Information provided by the Department of Resources indicate three key drivers contributing to recent property market changes within Sunshine Coast Regional LGA.
Population growth, including interstate and overseas migration, an increase in residential land supply and a proposed new planning scheme (for gazettal in 2025) are all cited as contributing factors.
Government data also revealed a significant increase in median values within the residential market sectors of Sunshine Coast Regional LGA since the last valuation. Overall median value for residential land in Sunshine Coast Regional LGA is now $450,000, an increase of 32.4 per cent.
Local increases in median value include 24.6 per cent for Beerwah, 30.2 per cent for Glass House Mountains, 50.9 per cent for Maleny and a massive 59.4 per cent increase for Mooloolah Valley.
sonia@gcnews.com.au
