Rental valuation
33 Rental valuation
Subject to subsections (2) and (3), the rental valuation of land for a rental period is the most recently made Land Act rental valuation of the land for the rental period.
The rental valuation of land subject to a category 12.1, 13 or 14.2 tenure for a rental period is the averaged value of the land for the rental period.
The rental valuation of land subject to a category 12.2 tenure for a rental period is—
the averaged value of the land for the rental period; or
if the averaged value of the land for the rental period is more than 13,850 fee units—13,850 fee units.
The averaged value of land is the value of the land worked out by averaging the Land Act valuation of the land under schedule 2.
In this section—
Land Act rental valuation see the Land Valuation Act 2010, section 6(4).
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