Imposition of land tax
9 Imposition of land tax
Land tax at the appropriate rate is imposed for a quarter on each parcel of rateable land that is residential land.
However, land tax is not imposed on a parcel of land that is exempt under section 10 or section 11.
The appropriate rate of land tax for a parcel of land is—
if section 27 (3) applies—the amount worked out under section 27 (4), (5) or (6), whichever applies; or
in any other case—the amount worked out for the parcel as follows:
Section 27 (3) applies to a unit owner in a registered units plan whose unit is subject to land tax.
In this section:
AUV means the average unimproved value of the parcel of land under the Rates Act 2004.
FC means the fixed charge determined under the Taxation Administration Act, section 139 for the parcel of land.
P means the percentage rate determined under the Taxation Administration Act, section 139 for the parcel of land.
Power to determine a fixed charge or percentage rate under the Taxation Administration Act includes the power to determine a different charge or rate for different matters or classes of matter (see Legislation Act, s 48).
This Act’s bill:Explanatory statementSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.