27Published ad valorem rate

27 Published ad valorem rate

27 Published ad valorem rate

(1) The Treasurer must, before the commencement of each financial year for which the levy is payable, determine an ad valorem rate of the levy for the next financial year.

(2) The determination must specify an ad valorem rate of the levy for each property sector (other than government land).

(3) The determination is to be made by order published on the NSW legislation website.

(4) The order is to be published on the NSW legislation website by the date of 30 April that occurs immediately before the commencement of the financial year.

(5) An ad valorem rate specified in the order for a property sector is the published ad valorem rate for that property sector for the financial year for which it is specified.

(6) If an order specifying the ad valorem rate of the levy for a financial year is not published on the NSW legislation website by the date of 30 April that occurs immediately before the commencement of that financial year, the published ad valorem rate for a property sector is taken to be the published ad valorem rate for the financial year that immediately precedes the financial year.

(7) Subsection (6) does not apply to the ad valorem rate for the first financial year of the levy.

s 27: Am 2017 No 32, Sch 3.2 [5]–[7].