8Calculation of levy

8 Calculation of levy

8 Calculation of levy

(1) For the Act, sections 8(2) and 14(2)(b), the amount of the levy imposed on premises on 1 July is the sum of the levy amounts for the previous financial year for each parking space situated on the premises during the previous financial year.

(2) The levy amount for a parking space in a financial year is the amount calculated as follows—

where—

B is the base rate of the levy for the premises for the financial year.

N is the number of days during the financial year that—

(a) the parking space existed, and

(b) the premises on which the parking space was situated were in a leviable district, and

(c) the parking space was not an exempt parking space.

Y is the number of days in the financial year.