Apportionment if land rateable for part only of financial year
224 Apportionment if land rateable for part only of financial year
(1) If land becomes rateable during the course of a financial year, or ceases to be rateable during the course of a financial year:
the land is liable to rates for the financial year; but
(b) the amount of the liability is reduced to a proportion of the rates that would have been payable if the land had been rateable for the whole of the financial year.
(2) The proportion is the proportion between the period for which the land is rateable (expressed in days) and the number of days in the financial year.
(3) A council must make any refund or remission of rates necessary to give effect to this section.
This Act’s bill:Explanatory statementSecond reading speech
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