Section 9C - Land Tax Management Act 1956 - Reduction in land value for flats on mixed development land or mixed use land

9CReduction in land value for flats on mixed development land or mixed use land

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9C Reduction in land value for flats on mixed development land or mixed use land

(1) For the purpose of assessing land tax, the land value of mixed development land or mixed use land on which is situated a flat is to be reduced by the allowable proportion in relation to the flat.

(2) The allowable proportion for a flat is as determined in accordance with whichever of the following paragraphs is applicable in the particular case—

(a) if there is an apportionment factor entered in the Register in respect of that land value—the proportion determined in accordance with the following calculation—

(b) if paragraph (a) is not applicable—the proportion specified in an application for a reduction under this section as the fair and reasonable proportion of the land value of the land to be attributed to the flat, subject to subsections (2A) and (2AA).

(c) (Repealed)

(2A) If there is no apportionment factor entered in the Register in respect of the land value of the land, the Chief Commissioner may request the Valuer-General to determine the apportionment factor in respect of the land concerned.

(2AA) If a request is made under subsection (2A)—

(a) the Valuer-General must determine the apportionment factor concerned and enter it in the Register, and

(b) the allowable proportion for the flat must be determined in accordance with subsection (2) (a).

(2AB) Apportionment factors for the purposes of this section are to be ascertained in accordance with Division 5 or Division 5A of Part 1B of the Valuation of Land Act 1916, as appropriate to the land concerned. If such an apportionment factor is expressed as a percentage, the apportionment factor is, for the purposes of this section, to be converted to a fraction.

Note.

Divisions 5 and 5A of Part 1B of the Valuation of Land Act 1916 allow objections to be made against the amount of an apportionment factor.

(2AC) (Repealed)