Rating for survey‑strata schemes
70 Rating for survey‑strata schemes
This section applies to the determination of the unimproved value of land in a survey‑strata scheme by the Valuer‑General under the Valuation of Land Act 1978 for rating and taxing purposes.
Each lot in a survey‑strata scheme must be valued as a separate parcel of land and the strata company is not liable for a rate made and levied by the local government or the rating authority, as the case may be, in respect of the lot.
In valuing a lot in a survey‑strata scheme the Valuer‑General must take into account benefits and disadvantages applicable to the lot as part of a survey‑strata scheme.
If part only of a lot is liable to a rate, that rate must be made and levied on an amount that bears the same proportion to the value of the lot as the rental value of the part so liable bears to the rental value of the lot.
[Section 70, formerly section 62A, inserted: No. 58 of 1995 s. 60; amended: No. 57 of 1997 s. 115(4); amended, renumbered as section 70 and relocated: No. 30 of 2018 s. 64 and 84.]
[70A, 70B. Deleted: No. 30 of 2018 s. 82(b).]
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