227Basis of assessed value

227 Basis of assessed value (1) A council may adopt unimproved capital value, improved capital value, or annual value as the basis of the assessed value of allotments within its area or part of its area.

Local Government Act 2019 130 (2) The assessed value of land is the unimproved capital value, the improved capital value or the annual value of the land (according to whichever basis of valuation has been adopted by the council for the land) as it appears from the valuation roll. (3) However: (a) the unimproved value of a mining tenement is its assessed value; and (b) the unimproved value is taken to be 20 times the annual rental payable under the tenement. annual value, of land, see section 8A of the Valuation of Land Act 1963. improved capital value, of land, see section 8 of the Valuation of Land Act 1963. unimproved capital value, of land, see section 9 of the Valuation of Land Act 1963.