After putting last year’s property assessment on hold, the Department of Environment and Resource Management will be proceeding with a city-wide valuation check – the first since 2006.

Despite the turbulent market of the past eighteen months, the new valuations are expected to push the average land value in some coastal suburbs, including Mermaid Beach and Surfers Paradise over the $1m mark. Suburbs like Robina and Coomera are also expected to show strong growth.

Used to calculate Council Rates, ratepayers will likely see an increase in their annual bills, with the new valuations expected to come into force June 30 2010.

Tags: 2010, Facts & Stats, GCCC, gold coast, land valuation, news, Public Works

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