14LExpenditure for which allowance is to be made

#### 14L Expenditure for which allowance is to be made 14L Expenditure for which allowance is to be made > > (1) For the purpose of ascertaining the land value of any land, the Valuer-General is to ascertain a reasonable allowance for profitable expenditure by the owner, occupier or lessee in respect of— > > > > > (a) any effective land improvements on or appertaining to the land, and > > > > > (b) any visible and effective improvements which, although not on the land, have been constructed— > > > > > > > (i) for the purpose of supplying water to the land, or > > > > > > > (ii) for the purpose of draining the land, protecting the land from inundation or making some other provision for the more beneficial use of the land. > > > (2) In the case of a stratum, the Valuer-General is also to ascertain a reasonable allowance for profitable expenditure by the owner or occupier on any visible and effective improvements which, although not in the stratum, have been constructed exclusively for the benefit of the stratum. > > > (3) An allowance for profitable expenditure is to be calculated on the assumption that— > > > > > (a) the allowance is being calculated at the date by reference to which the land value is being determined, and > > > > > (b) any improvements that have been taken into account for the purpose of ascertaining the land value of the land were in existence at the date referred to in paragraph (a). > > > (4) An allowance for profitable expenditure is to be entered in the Register of Land Values in respect of any land value to which it relates. > > **s 14L:** Ins 2000 No 106, Sch 1 \[14\].