What is the value uplift of land?

In force

The value uplift of land is determined in accordance with the formula—

where—

CIV1 has the meaning given in—

(a)

section 12(a) for rateable land and non‑rateable leviable land; and

(b)

section 13(1)(a) for non-rateable non‑leviable land;

CIV2 has the meaning given in—

(a)

section 12(b) for rateable land and non‑rateable leviable land; and

(b)

section 13(1)(b) for non-rateable non‑leviable land;

VU is the value uplift of the land.

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