44CID levies

44 CID levies

44 CID levies

A levy must be calculated by using one of the following methods—

(a) a proportional value method—where the levy is calculated as a proportion of a parcel of land’s gross land value,

(b) a tiered method—where all parcels of land in a CID are sorted into two or more tiers, specified by the CID proposal, according to the parcel’s gross land value and the same levy is imposed on every parcel within the tier.

Example—

A CID proposal could specify four tiers with the following gross land value thresholds and amounts—

(a) for land valued at less than $1,000,000—a $500 levy,

(b) for land valued at $1,000,000 up to $2,000,000—a $1,000 levy,

(c) for land valued at $2,000,000 up to $3,000,000—a $1,500 levy,

(d) for land valued at greater than $3,000,000—a $2,000 levy.

s 44: Ins 2025 (622), Sch 1[2].