Media Release – COUNCIL SEEKS REVALUATION FOLLOWING FLOOD EVENT

Bundaberg Regional Council has advised the Department of Natural Resources and Mines that a valuation of the local government area is required for 2014.

Mayor Cr Mal Forman said Council did not seek a revaluation in 2013 however owing to the recent floods, Council felt it was now prudent to seek the revaluation.

Ratepayers with properties that were flood affected may receive a reduction in general rates as a result of the revaluation, although he said this would depend on the location of the properties and how they were assessed by the Valuer-General.

“It is important to note that a reduction in rates may not eventuate as many of the inundated properties may already be charged the minimum general rate within their rating category, so any decrease in property valuation would not affect their rates bottom line,” Cr Forman said.

“Council is seeking this valuation in the knowledge that as a result of flood inundation some properties may be devalued.”

“These valuations would be effective as of June 30, 2014 and apply to the 2014/15 financial year’s rates.”

Recent valuations have been undertaken in the Bundaberg Regional Council area in 2007, 2010, 2011 and 2012.

This valuation is covered by an annual maintenance fees charged by DNRM regardless of whether Council receives a revaluation or not. This fee also covers valuation maintenance during the year.

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