s 26
In forceWhat is the unimproved value of improved land
Chapter 2Valuations
Part 2Valuation methodologies
Division 3Site value and unimproved value
Subdivision 4Unimproved value of improved land
26 What is the unimproved value of improved land
(1)
If land is improved, its unimproved value is its expected realisation under a bona fide sale assuming all site improvements and non-site improvements on the land had not been made.
(2)
However, the land’s unimproved value is affected by any other relevant provisions of this chapter.
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