s 51
In forceProvisions for when discounted valuation period ends
Chapter 2Valuations
Part 2Valuation methodologies
Division 5Allowances and concessions
Subdivision 3Discounting for subdivided land not yet developed (non-Land Act rental)
51 Provisions for when discounted valuation period ends
(1)
This section applies for the relevant parcel on and from the day the discounted valuation period under section 50 ends.
(2)
For the local government legislation, a change in the relevant parcel’s value is taken to have had effect on that day.
(3)
For the making and levying of rates on the relevant parcel on and from that day—
(a)
its previous value is its value as discounted under section 50(2); and
(b)
its new value is its value without regard to the discount.
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