25Property tax payable

25 Property tax payable

25 Property tax payable

(1) If a single class of land use applies to land in a financial year—the property tax payable is the property tax amount for the class of land use for the land for the financial year.

(2) If more than 1 class of land use applies to land in a financial year—the property tax payable for the land for a financial year is calculated by—

(a) for each class of land use that applies—reducing the property tax amount for the class of land use for the land for the financial year proportionally to reflect the number of days in the financial year that the class of land use applied to the land, and

(b) adding together each amount calculated under paragraph (a) for each class of land use.

Note—

The property tax payable may be adjusted in certain circumstances. See, for example, sections 26–27.