Exemption from rating
95 Exemption from rating
Land that is portfolio property is not rateable land for the Local Government Act 2009.
Subsection (1) does not apply to—
land that is the subject of a section 24 contract or a section 113 contract; or
land in which a person has a share that the person bought under a section 24 contract or a section 113 contract.
In this section—section 24 contract means a contract of sale, entered into under the repealed Act, section 24, under which—
the purchasing price, other than any deposit, is payable in 2 or more instalments; or
the sale is of a share in a house and land.
section 113 contract means a contract of sale, entered into under section 113, under which—
the purchasing price, other than any deposit, is payable in 2 or more instalments; or
the sale is of a share in a house and land.
This Act’s bill:Explanatory memorandum
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.