26AValuation of parcels that form part of the site of a building

#### 26A Valuation of parcels that form part of the site of a building 26A Valuation of parcels that form part of the site of a building > > (1) If the site of a building is subdivided into separate parcels of land solely by means of a subdivision to which this section applies, the value of each of those parcels is to be determined as follows— > > > > > (a) first, the Valuer-General is to value all of those separate parcels as if they comprised a single parcel and that single parcel and all improvements on it were owned by a single owner, and > > > > > (b) then, the Valuer-General is to apportion the value obtained under paragraph (a) between each of those separate parcels, on the basis of their respective rental values as a proportion of the sum of the rental values of each of those parcels. > > > (2) This section applies to subdivision by any of the following means— > > > > > (a) subdivision by the creation of 2 or more lots in a deposited plan, > > > > > (b) subdivision by a deposited plan and one or more strata plans, > > > > > (c) subdivision by 2 or more strata plans. > > > (3) This section does not apply unless at least 2 or more of the parcels of land created by the subdivision are adjoined horizontally (that is, one is wholly or partly above the other). > > > (4) The site of a building includes land consisting of space above or below the building. > > > (5) In determining the rental value of a parcel of land, regard is to be had to any improvements on or appertaining to the parcel. > > > (6) This section does not limit any power of the Valuer-General to include 2 or more parcels of land that are owned by the same person in one valuation. > > > (7) In this section— > > > > building includes a building that is in the course of construction. > > > > parcel of land means a parcel (within the meaning of the [Strata Schemes Development Act 2015](/view/html/inforce/current/act-2015-051)) or the land comprised in a lot in a deposited plan. > > > > strata plan means a strata plan within the meaning of the [Strata Schemes Development Act 2015](/view/html/inforce/current/act-2015-051). > > **s 26A:** Ins 1996 No 67, Sch 1 \[5\]. Am 2000 No 106, Sch 2 \[5\]; 2015 No 51, Sch 9.24 \[7\].