14Imposition of rates

14 Imposition of rates (1) Rates of the fixed charge are imposed for a parcel of rateable land. (2) Rates are imposed for a parcel of rateable land in accordance with— (a) if section 29 (3) applies—the formula that applies under section 29 (4); or (b) in any other case—the following formula: FC + (AUV × P) Note If s 29 (3) applies, rates imposed for a parcel of land that is a unit subdivision are payable by the unit owners. The amount payable by each unit owner is the amount worked out under section 29 (4).

AUV means— (a) the average unimproved value of the parcel; or (b) for airport land—the AUV of airport land under section 40C. Note Different fixed charges, amounts, or percentage rates may be determined