11Redetermination—error

11 Redetermination—error (1) This section applies if an error was made in relation to a determination of the unimproved value of a parcel of land as at 1 January in a particular year (the redetermination date). (2) The commissioner may redetermine the unimproved value of the parcel as at the redetermination date.

(3) The redetermination applies to the parcel of land for the financial year immediately following the redetermination date. A clerical error was made in relation to the determination of a parcel of land as at 1 January 2025, resulting in the unimproved value of the land being incorrectly determined as $220 000. The unimproved value of the parcel was correctly determined as at 1 January 2021, 1 January 2022 and 1 January 2023 as $230 000 and on 1 January 2024 as $240 000. The average unimproved value of the land for the year beginning 1 July 2025 was calculated as— ($230 000 + $230 000 + $230 000 + $240 000 + $220 000)/5=$230 000 After the clerical error was corrected, the unimproved value of the parcel was correctly redetermined as at 1 January 2025 as $250 000. The average unimproved value of the land was recalculated as (the recalculated AUV)— ($230 000 + $230 000 + $230 000 + $240 000 + $250 000)/5=$236 000 The recalculated AUV applies for the period starting on 1 July 2025 and ending on Note The calculation of average unimproved value for a parcel of land before 1 July 2022 involves averaging over 3-year or 4-year periods (see s 13A). error, in relation to a determination, includes— (a) an error in making a valuation on which the determination is based; and (b) the duplication of an error in relation to an earlier determination.