VALUATION OF LAND ACT 1916 - SECT 14K
Assumption as to physical condition and manner of use of land
VALUATION OF LAND ACT 1916 - SECT 14K
Assumption as to physical condition and manner of use of land
14K Assumption as to physical condition and manner of use of land
(1) For the purpose of valuing any land, it is to be assumed--
(a) that the
physical condition of the land, and of any other land, and
(b) that the
manner in which the land, and any other land, may be used,
were the same on 1
July of the valuing year in respect of which the land is being valued as they
were on the date on which the valuation is made.
(2) For the purpose of
ascertaining any allowance or apportionment factor for any land, it is to be
assumed--
(a) that the physical condition of the land, and of any other land,
and
(b) that the manner in which the land, and any other land, may be used,
were the same on 1 July of the valuing year in respect of which the allowance
or apportionment factor is being ascertained as they were on the date on which
the land became eligible to have an allowance or apportionment factor
ascertained for it.
