Regulations may specify land value of unvalued land
20 Regulations may specify land value of unvalued land
The regulations may specify the land value of unvalued land, or the method by which the land value of unvalued land is to be calculated, for the purposes of this Act.
The land value of unvalued land, or the method by which the land value is calculated, may be specified by reference to the owner of the land, the liable person in relation to the land, the use of the land, the location of the land or in any other way.
The regulations may specify a zero land value for unvalued land. In that case, the land value of the land is zero and no levy is payable on the land (including no fixed component).
The regulations have effect despite anything to the contrary in the Valuation of Land Act 1916.
This provision refers to the regulations (The regulations may specify
, The regulations
). Made under this Act:
This Act’s bill:Explanatory memorandumSecond reading speech
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