Rating on gross rental value
71 Rating on gross rental value
If the Valuer‑General values the gross rental value of a parcel under the Valuation of Land Act 1978 for rating and taxing purposes, each lot of the parcel must, despite that or any other Act, be valued separately as a single lot.
Subject to subsection (3), if a local government or other authority (the rating authority) authorised to make and levy rates on the parcel uses a valuation of the gross rental value of the lots of the parcel —
the strata company is not liable in relation to the parcel or any lot for a rate made and levied by the local government or the rating authority, as the case may be; and
the owner of each lot comprised in the parcel is, subject to any exemptions or concession that may be applicable, liable for a rate made and levied by the rating authority.
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 71, formerly section 63 amended: No. 14 of 1996 s. 4; amended, renumbered as section 71 and relocated: No. 30 of 2018 s. 65 and 84.]
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