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Published on DNRME Disclosure Log RTI Act 2009 Basis Report 2016 Annual Valuation of Cairns Regional Council Log Disclosure 2009 DNRMEAct on RTI Published Date of Valuation 01/10/2015 Date of Issue 02/03/2016 Date of Effect 30/06/2016 18-481 File A Page 1 of 119 Log This publication has been compiled by State Valuation Service, Department of Natural Resources. © State of Queensland, 2015. The Queensland Government supports and encourages the dissemination and exchange of its information. The copyright in this publication is licensed under a Creative Commons Attribution 3.0 Australia (CC BY) licence. Disclosure Under this licence you are free, without having to seek our permission,2009 to use this publication in accordance with the licence terms. You must keep intact the copyright notice and attribute the State of Queensland as the source of the publication. DNRMEAct For more information on this licence, visit http://creativecommons.org/licenses/by/3.0/au/deed.en The information contained hereinon is subject to change without notice. The Queensland Government shall not be liable for technical or other errorsRTI or omissions contained herein. The reader/user accepts all risks and responsibility for losses, damages, costs and other consequences resulting directly or indirectly from using this information. Published 18-481 File A Page 2 of 119 Summary of Impacts ....................................................................................................................................... 5 Residential ................................................................................................................................................................. 5 Rural Homesite .......................................................................................................................................................... 6 Multi-Unit Residential ................................................................................................................................................ 6 Commercial ................................................................................................................................................................ 7 Industrial .................................................................................................................................................................... 7 Primary Production .................................................................................................................................................... 7 Other/Special Purpose ...............................................................................................................................................Log 8 Area Allocation, Certifications & Approval ........................................................................................................ 9 Area Allocation .......................................................................................................................................................... 9 Certification by Valuers .............................................................................................................................................. 9 Principal Valuer Endorsement.................................................................................................................................. 10 Area Manager Approval .......................................................................................................................................... 10 LGA Overview ...............................................................................................................................................Disclosure 11 Current and Emerging Issues .......................................................................................................................... 11 Basis of Revaluation ......................................................................................................................................2009 14 Residential ............................................................................................................................................................... 14 Rural Homesites .......................................................................................................................................................DNRMEAct 17 Multi-Unit Residential .............................................................................................................................................. 18 Commercial ..............................................................................................................................................................on 21 Industrial ..................................................................................................................................................................RTI 24 Primary Production .................................................................................................................................................. 26 Industry Overview ............................................................................................................................................... 26 Other/Special Use .................................................................................................................................................... 27 Relativity with Adjoining Local Government ................................................................................................... 29 Target PublishedApplication ......................................................................................................................................... 29 Allowances ................................................................................................................................................... 29 Costs ............................................................................................................................................................ 29 Sub Market Areas .......................................................................................................................................... 30 Annexure List ................................................................................................................................................ 75 Benchmark Schedule ................................................................................................................................................ 75 - 3 - 18-481 File A Page 3 of 119 Sales Schedule .......................................................................................................................................................... 75 Approved Factor Formula Schedule ......................................................................................................................... 75 QCALCs Basis Reports .............................................................................................................................................. 75 MASS Stratification Statistics Report ....................................................................................................................... 76 MASS Revaluation Statistics Report ......................................................................................................................... 76 Revaluation Land Use Statistics Report ................................................................................................................... 76 Log Disclosure 2009 DNRMEAct on RTI Published - 4 - 18-481 File A Page 4 of 119 Summary of Impacts Land Use No. of Current Total Factor Overall Proposed Total Valuations Value Range Factor Value Single Unit 43,879 $7,715,124,000 0.77-1.68 1.09 $8,375,142,000.00 Residential Rural Homesite 3,433 $995,872,800 0.85-1.76 1.05 $1,044,784,500.00 Multi-Unit 1,545 $824,633,000 0.85-1.58 1.10 $908,957,500.00 Residential Commercial 1,383 $1,033,968,500 0.84-1.86 1.08 $1,112,660,300.00 Industrial 1,198 $631,840,200 0.77-2.33 1.03 $650,559,700.00 Primary 551 $163,540,600 1.00-1.00 1.00 $163,540,600.00 Production Log Other/Special 180 $241,524,000 0.88-4.68 1.35 $326,871,500.00 Use Totals 52,169 $11,606,503,100 0.77-4.68 1.08 $12,582,516,100.00 Residential Movements in the residential sector have been mixed, with the median valuation increasing from $162,500 to $177,500 (9.2%). More than two-thirds of all valuations increased in the range of 5% to 15%, with only a relatively small number of properties increasing by more than 20%.Disclosure The localities of Babinda and Mirriwinni went against the wider trend, with values generally reduced by 15%. The maximum factor of 1.68 was for a small trustee lease property at Edmonton, where the valuation increased from $25,000 to $42,000 to improve relativity with other2009 sport and recreation properties. The minimum factor of 0.77 relates to a steeply sloping allotment in which access impediments were not fully recognised previously. DNRMEAct Northern Beaches Predominantly northern beaches land values were increased in the range of 5-15% (reflecting a $10,000- $35,000 increase for the majorityon of properties). Palm Cove and Kewarra increased 10% while Redlynch and Smithfield Village were increased 15%. IncreasesRTI of $10,000 (or 5%) were applied to Smithfield, Caravonica, Yorkeys Knob, Holloways Beach and Machans Beach, whilst a $20,000 increase (5-15%) was applied to Brinsmead, Freshwater, Stratford and Aeroglen. Clifton Beach was rewritten after increases of up to 25% in the 1/10/2014 revaluation. Sales supported a rewrite
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