Assumptions for existing uses
22 Assumptions for existing uses
This section does not apply for a Land Act rental valuation.
In deciding land’s site value, the following must be assumed (the existing use assumptions)—
the land may be used, or may continue to be used, for any purpose for which it was being used, or for which it could be used, (each an existing use) on the valuation day;
improvements may be continued or made to the land to allow it to continue to be used for any existing use.
To remove any doubt, the following are declared for the existing use assumptions—
they do not prevent regard being had under section 17 to any other purpose for which the land might be used;
in deciding the site value, new non-site improvements may be hypothesised instead of non-site improvements actually used for an existing use.
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