Cairns Economic Monitor - July
Queensland Budget 2025–26: Far North Sees Targeted Investment
The recently released Queensland Budget brought few surprises, with the new LNP Government focused on reducing deficits. While overall spending was conservative, the Far North received some positive news, including funding for the Barron River Bridge, confirmation of the Common Use Facility at the port, and increased investment in health and housing. Capital grants for the region totalled $1.09 billion, or 4.5% of the State's total.
Commentary from Partner Michael Wilson:
Council rates are expected to rise by 5.9% next year. While that may seem high, rates haven't increased in line with recent land value surges. In contrast, land tax is directly based on those higher values, so many property owners can expect much steeper land tax bills.