174ALand which ceases to be urban farm land or residential use land

174A Land which ceases to be urban farm land or residential use land If rateable land ceases to be urban farm land or residential use land the following provisions apply— (a) the person who is liable to pay the rates and charges on that land immediately after it ceases to be urban farm land or residential use land must pay to the relevant Council the sum of money specified in paragraph (b); (b) the sum payable is the difference between— (i) the rates and charges and any amount in lieu of rates or charges which were paid or payable for the land for the period since the rateable land became urban farm land or residential use land or the period of 5 years (whichever is the lesser period); and (ii) the rates and charges and any amount in lieu of rates and charges which would have been payable for the land for the relevant period under subparagraph (i) if the rateable land had not been urban farm land or residential use land during that period; (c) the Council may exempt any person from paying the whole or part of the sum of money specified in paragraph (b).