Tablelands primary producers are reeling having received new land valuations, with increases of up to and over 60 per cent recorded across the region.
It's the second consecutive valuation where primary producers have been slugged with heavy increases on the back of "overall confidence in the rural sector which has generally resulted in higher rural land values, particularly for grazing and arable properties".
The Department of Natural Resources and Minds revalued the Tablelands Regional Council, taking into consideration all information and sales data available at 1 October, 2022.
The new total land valuation for primary production in the Tablelands region has increased by 48.7pc, to a total value of $1.4 billion ($1,426,034,500). Some 1222 properties were valued.
The total valuation for the region - across all land uses - increased by 36pc since the last valuation, with an estimated value of approximately $3,653,288,300.
Tablelands Regional Council Mayor Rod Marti acknowledged the new valuations would pose a "significant challenge" for the council.
He said the valuation increases for primary production and grazing land was almost identical to the previous increase.
"Unlike valuations two years ago, the valuation increases are across the board, so every rating category is impacted," Cr Marti said.
"I'd suggest that to have such high valuation increases immediately following the last valuation event is pretty rare."
Earlier valuation increases and resulting rate hikes angered the farming community and, in part, prompted council to establish an agricultural advisory committee, with representatives from the major agricultural commodities.
Council has committed to consider the percentage agriculture rates contribute to the total rates collected as part of a full rate review.
Cr Marti said the council would be cognisant of the cost burden on ratepayers given the inflation number.
"However, we also have to ensure we're a financially sustainable council that acts responsibly," Cr Marti said.
"We've just completed a rating category review which will feed into rating.
"Council will use those tools that give us the best outcome in the circumstances, however, it's too early to call them out yet.
"It's important to understand that whatever suite of tools used, the idea that council can completely massage out valuation increases of this scale is not reality.
"We also have to consider the inflationary pressures on our own operations just like any other enterprise."
The new valuations take effect from June 30 2023.
