Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) Section 9 (Imposition of land tax) applies to impose land tax on a qualifying parcel of land as if a reference to the parcel were a reference to the percentage of the intended development of the parcel determined under the Rates Act 2004 , section 32 to be used for commercial purposes.
(2) In working out the land tax payable for the parcel of land under section 9, the average unimproved value of the parcel is the amount worked out in accordance with the following formula:
(3) In subsection (2):
AUV means the average unimproved value of the parcel of land under the Rates Act 2004 .
CP means the percentage of the intended development of the parcel determined under the Rates Act 2004 , section 32 to be used for commercial purposes.