157Which systems of valuing land may a Council use?

157 Which systems of valuing land may a Council use? (1) A Council may use the site value, net annual value or capital improved value system of valuation. S. 157(2) amended by No. 78/1991 s. 13(d). (2) A Council must publish public notice of its decision to change its system of valuation. S. 157(3) repealed by No. 76/1997 s. 13(a), new s. 157(3) inserted by No. 67/2017 s. 78, amended by No. 50/2024 s. 97. (3) For the purposes of calculating the site value, net annual value or capital improved value of rateable land, a Council must use the current valuations made in respect of the land under the **Valuation of Land Act 1960** by the Valuer-General. S. 157(4) repealed by No. 34/1996 s. 19(2). S. 157(5) substituted by No. 34/1996 s. 17. (5) A person has a right to make a submission under section 223 on a Council's decision to change its system of valuation.