5BValuation of transmission easements

5B Valuation of transmission easements S. 5B(1) amended by No. 88/2005 s. 117(Sch. 2 item 10.2(a)). (1) For the purposes of Division 4 of Part 2 of the **Land Tax Act 2005**, the value of a transmission easement is the amount by which it decreases the site value of the land encumbered by it, that is, the amount of the difference between— (a) the sum which would have been the site value of the land encumbered by the transmission easement if that land were not so encumbered; and (b) the site value of that land as so encumbered. S. 5B(2) amended by No. 88/2005 s. 117(Sch. 2 item 10.2(b)), substituted by No. 84/2006 s. 19. (2) At the request of the Commissioner, and to enable the Commissioner to assess land tax imposed under Division 4 of Part 2 of the **Land Tax Act 2005**, the valuer-general must cause— S. 5B(2)(a) amended by No. 67/2017 s. 38(1). (a) a valuation of each transmission easement to be made as at 1 January in each calendar year; and (b) the valuation to be given to the Commissioner before 31 December in that year. S. 5B(2A) inserted by No. 84/2006 s. 19, amended by No. 94/2009 s. 6, repealed by No. 67/2017 s. 38(2). (3) This section does not apply to a transmission easement— S. 5B(3)(a) amended by No. 88/2005 s. 117(Sch. 2 item 10.2(c)). (a) held by a transmission easement holder exempted by Order in Council under section 87(1)(a) of the **Land Tax Act 2005**; or S. 5B(3)(b) amended by No. 88/2005 s. 117(Sch. 2 item 10.2(d)). (b) exempted by Order in Council under section 87(1)(b) of the **Land Tax Act 2005**. S. 6 (Heading) amended by No. 67/2017 s. 39(1). S. 6 amended by Nos 6825 s. 4, 7762 s. 4, 8649 s. 7(3), 12/1989 s. 4(1)(Sch. 2 item 125.4), 55/1989 s. 11(2)(c), 91/1994 s. 38(c)(d), substituted by No. 94/2009 s. 7.