The Valuation of Land Act 1944 requires the Department of Natural Resources and Water to undertake the annual valuation of all local government areas.

Statutory valuation is a periodic review of the unimproved value of most land within Queensland.

The valuations are used by :

• local governments as a base for levying rates
• the Office of State Revenue as a base for levying land tax where appropriate on freehold land
• NRW for calculating state land rental
• the Commonwealth Grants Commission to help them allocate federal funding.

Exceptions

The Chief Executive may direct that a valuation not be made :

• because of unusual circumstances (e.g. civil disturbance, extreme climate conditions), or
• after considering factors such as :
  • the market survey report for the local government area
  • the results of consultation with the local government, appropriate local groups, and industry groups
  • the impact on valuations used for land tax or rental purposes
  • the time since the last valuation
  • the relativity of land valuations in the area with those in adjacent local government areas
  • the overall program for annual valuations over the next five-year period.

Through this process a new valuation roll is produced for those local government areas being valued.