sec.67Rateable value of land

sec.67 Rateable value of land

The council must calculate the rates for land by using the rateable value of the land. The rateable value of land for a financial year is the value of the land— for the financial year; or as averaged over a number of financial years. The council may use the value of the land averaged over a number of financial years only if the council decides, by resolution, to do so. The resolution must state whether the council will use, for deciding the rateable value of the land— the 2-year averaged value of the land; or the 3-year averaged value of the land. However, if the value of the land averaged over a number of financial years is more than the value of the land for the financial year, the rates must be calculated using the value of the land for the financial year. (sec.67-ssec.1) The council must calculate the rates for land by using the rateable value of the land. (sec.67-ssec.2) The rateable value of land for a financial year is the value of the land— for the financial year; or as averaged over a number of financial years. (sec.67-ssec.3) The council may use the value of the land averaged over a number of financial years only if the council decides, by resolution, to do so. (sec.67-ssec.4) The resolution must state whether the council will use, for deciding the rateable value of the land— the 2-year averaged value of the land; or the 3-year averaged value of the land. (sec.67-ssec.5) However, if the value of the land averaged over a number of financial years is more than the value of the land for the financial year, the rates must be calculated using the value of the land for the financial year.

• (a) for the financial year; or
• (b) as averaged over a number of financial years.
• (a) the 2-year averaged value of the land; or
• (b) the 3-year averaged value of the land.