Statutory purposes of valuations
6 Statutory purposes of valuations
The value of land under a valuation is its value for—
any liability under the Land Tax Act 2010 (the Land Tax Act) for land tax relating to the land; andNote—
See the Land Tax Act, sections 16 and 17.
the making and levying of rates; and
the calculation of rent under the Land Act 1994 (the Land Act) for a Land Act tenure but only to the extent that Act provides for the value to be so used.
A valuation for the purpose mentioned in subsection (1)(a) is a land tax valuation.
A valuation for the purpose mentioned in subsection (1)(b) is a rating valuation.
A valuation for the purpose mentioned in subsection (1)(c) is a Land Act rental valuation.
If—
another Act refers to the value or rateable value of land; and
a valuation is in effect for the land;
the value or rateable value is that valuation.
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