28Issue of notice of assessment or reassessment

28 Issue of notice of assessment or reassessment

28 Issue of notice of assessment or reassessment

(1) The Chief Commissioner must give the included owner of land subject to property tax a notice of assessment of the property tax payable on land for a financial year as soon as practicable after—

(a) for land that becomes subject to property tax after the start of the financial year—the land becomes subject to property tax, or

(b) otherwise—the start of the financial year.

(2) The Chief Commissioner must give the included owner of land subject to property tax a notice of reassessment during a financial year as soon as practicable after the Chief Commissioner is notified of a change affecting the property tax payable, including—

(a) a change of land use class applying to the land, or

(b) a change in the value of the land, or

(c) a change in the proportion of the land subject to property tax.

(3) A reassessment may be made more than 5 years after the initial assessment.

Note—

See the Taxation Administration Act 1996, section 9(3)(c).

(4) Property tax is payable by the included owner of the land in accordance with the notice of assessment or reassessment.

(5) No payment of property tax is required earlier than 30 days after the notice is given to the included owner of the land.