192Rating of lots

#### 192 Rating of lots 192 Rating of lots > > (1) A rate on a rateable parcel or a rateable part of a parcel must not be made or levied on the owners corporation but, subject to this section, must be made and levied in relation to each lot comprised in the parcel as if— > > > > > (a) the owner of each lot were the owner in fee simple in possession of the lot and it were a separate parcel of land having a value equal to the appropriate value apportioned to it under paragraph (c), and > > > > > (b) the owner were, subject to any exemptions or concessions applying to the owner or to the owner’s lot, liable for any rate made and levied by the rating authority on the owners of land, and > > > > > (c) the value of each lot were an amount that bears to the corresponding value worked out in accordance with section 26A of the [Valuation of Land Act 1916](/view/html/inforce/current/act-1916-002) of the rateable parcel or the rateable part of the parcel, (after deducting from the corresponding value any allowance applicable under Division 3 of Part 1B of the [Valuation of Land Act 1916](/view/html/inforce/current/act-1916-002)) the same proportion as the unit entitlement of that lot bears to the aggregate unit entitlement. > > > (2) If part only of a lot is rateable for any rate, the rate in relation to the lot must be made and levied on the rateable part as if the value of that part were an amount that bears to the appropriate value of the lot, worked out under subsection (1) (c), the same proportion as the rental value of the rateable part bears to the rental value of the lot. > > > (3) A reference in this section to a rateable parcel, or a rateable part of a parcel, in relation to any rate, is a reference to a parcel or part of a parcel that is rateable as to that rate or would be so rateable but for any exemption or concession applicable to any portion of that parcel or part (not being, in the case of a rate for water, sewerage or drainage services, an exemption or concession applicable to that portion by reason of its situation in relation to the services). > > > (4) In this section— > > > > rating authority means an authority authorised to make and levy rates on land. > > > > value, in relation to a parcel or a lot, means land value, improved value, improved capital value or assessed annual value.