TASIn ForceAct
Valuation of Land Act 2001
14Value of interest of lessee in capital value of land
Start here
Get a plain-English read of 14
Turn the raw legal text into a practical explanation grounded in Valuation of Land Act 2001.
### 14 Value of interest of lessee in capital value of land
> For the purposes of this Act, the value of the interest of a lessee, other than a mesne lessee, in the capital value of any land is the fair present value of the excess, if any, of the fair market rental value of the land in normal condition over the rent, rates and taxes, payable under the lease for its unexpired term, adjusted by reason of any conditions, options or prescriptive rights (whether valuable or otherwise) which may be in existence.