(1) Land tax, in the case of land subject to the
Strata Schemes Development Act 2015, is to be levied and paid in respect of
each lot comprised in a parcel.
(2) For the purposes of this Act--
(a) the
land value of a lot comprised in a parcel is an amount that bears to the
land value of the parcel (within the meaning of section 9 (4)) the same
proportion as the unit entitlement of the lot bears to the aggregate unit
entitlement, and
(b) the average value of the lot is to be ascertained on the
basis of the land value of the lot, as determined under paragraph (a).