(2) The
"premium value" of the residential land is the amount (if any) by which the
dutiable value of the residential land, when multiplied by the apportionment
factor, exceeds $3,040,000.
(2A) The amount of $3,040,000 specified in
subsections (1) and (2) is an adjustable amount for the purposes of Division
3.
(3) The apportionment factor is the proportion that 2 hectares bears to
the total area of the parcel of land in hectares.