Northern Territory Rates Act 1971

(1) If the rate declared in respect of an allotment in a prescribed area is a valuation-based charge, the Minister must also declare which of the following bases of calculation of the assessed value applies to the allotment:

(a) the unimproved capital value of the allotment as it appears from the valuation roll;

(b) the improved capital value of the allotment as it appears from the valuation roll;

(c) the annual value of the allotment as it appears from the valuation roll.

annual value, of an allotment, see section 8A of the Valuation of Land Act 1963.

assessed value, of an allotment, means:

(a) if the allotment is a mining tenement – 20 times the annual rent payable under the tenement; or

(b) otherwise – the value of the allotment calculated on the basis of calculation declared by the Minister under subsection (1).

improved capital value, of an allotment, see section 8 of the Valuation of Land Act 1963.

unimproved capital value, of an allotment, see section 9 of the Valuation of Land Act 1963.

valuation roll, see section 4(1) of the Valuation of Land Act 1963.