50AAdjustment factors

### 50A Adjustment factors > [*\[Section 50A Inserted by No. 39 of 2006, s. 28, Applied:01 Jan 2007\]*](/view/html/inforce/2007-01-01/act-2006-039#GS28@EN) > > > (1)  For the purposes of this Act, an adjustment factor is a factor by which, on a determination made by the Valuer-General, a valuation in force under this Act in respect of a valuation district is to be multiplied so that the value of the relevant land accords with the values generally prevailing on the last preceding 1 October. > > > (2)  An adjustment factor may be determined in respect of the land value, capital value or assessed annual value of land and may be applied to – > > > > > > (a) the whole of the land in a valuation district; or > > > > > > > (b) any other class or description of land, as determined by the Valuer-General, in a valuation district – > > > > and is to be applied to all land in respect of which the Valuer-General is required to make a valuation under this Act. > > > (3)  An adjustment factor has effect until it is replaced by another adjustment factor or a fresh valuation. > > > (4)  The Valuer-General is to provide a rating authority, annually or every 2 years, as the Valuer-General considers expedient, with an adjustment factor or adjustment factors in respect of its valuation district. > > > (5)  The Valuer-General is to provide the Commissioner of State Revenue annually with an adjustment factor or adjustment factors in respect of the land value of land in all valuation districts. > > > (6)  The Valuer-General is not required to provide an adjustment factor or adjustment factors in respect of a valuation district if a new fresh valuation is to come into force for the next financial year in respect of that valuation district. > > > (7)  The Valuer-General is to – > > > > > > (a) forward a copy of the determination to any relevant rating authority and to the Commissioner of State Revenue before 1 March in each year or such other date as may be agreed with the rating authority or the Commissioner; and > > > > > > > (b) within 14 days after making the determination, cause a copy of the determination to be published in the *Gazette*, on the World Wide Web and in such other manner as the Valuer-General thinks fit. > > > (8)  A failure to comply with the requirements of [subsection (7)](#GS50A@Gs7@EN) does not invalidate the determination.