Queensland Consolidated Acts Queensland Consolidated Acts(1) A reference to a particular parcel of rateable land in the land record of a local government may be removed, on the local government's resolution, if--
(a) rates levied on the land by the local government for at least 3 years are overdue; and
(b) the overdue rates total more than--
(i) the unimproved value of the land; or
(ii) the market value of the land; and
(c) if paragraph (b)(i) applies--the land is considered to be--
(i) valueless; or
(ii) of so little value that, if offered for sale, it would not realise the overdue rates.
(2) If a local government resolves to remove a reference to rateable land from its land record, the local government must acquire the land under this division.
(3) This section does not apply to an interest in land held on a tenure that prohibits a corporation from holding an interest in the land.