Median residential land values have soared 12.7 per cent across the Queensland capital in one year, with more than half its suburbs now above a key tax threshold.
) and Rochedale all recorded a median increase of 40 per cent or higher – enough to push the latter above the tax threshold to $730,000.
Total industrial and primary production land values across the city also saw jumps of 17.2 and 20.4 per cent, respectively, while primary production land in the state’s rural west showed “significant” increases. New values will take effect from June 30. However, about 60 per cent of individuals getting a bill for the first time are expected to be granted such exceptions.
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