News
9 April, 2021
Official Somerset land valuations hit $2.58 billion
Somerset Regional Council has welcomed the release of official State land valuations for Somerset showing an increase of 13% to $2.58 billion. Somerset Mayor Graeme Lehmann said Somerset was a great place to live.
“These official State land values back up what we have seen happening in Somerset with buyers coming to our area in large numbers and discovering our lakes, river and the Brisbane Valley Rail Trail,” Cr Lehmann said.
“We understand that Somerset and Toowoomba are the only council areas in south east Queensland where the State government has issued new land values.
“The fact that the State land valuers did their calculations last October and not more recently probably even means the valuations might actually be understated.
“Soaring land values are a silver lining for our community where many people have been hit hard by the economic impacts of the pandemic and drought.”
Cr Lehmann said council was working hard to get economic activity happening across Somerset.
“We’re building major infrastructure that the community needs and attracting government funding into the local economy where we can,” he said.
“The entire council team can reassure residents that record land valuation increases do not mean there will be record rises in overall rates when we deliver our annual budget in June.
“We pride ourselves on our affordable rates and effective services and we intend to stick to that philosophy.
“We encourage people however to object to their new State land valuations through the Department of Resources where they do not think they are correct,” he said.
