New South Wales Consolidated Acts

VALUATION OF LAND ACT 1916 - SECT 14U

14U How subdivision allowance is ascertained

(1) The amount of the allowance for subdivision in respect of a lot in a deposited plan is the proportionate amount of the discount from sale price of all lots in that plan that in the opinion of the Valuer-General would be applicable to the lot.

(2) The "discount from sale price", in relation to lots in a deposited plan, means the amount (if any) that in the opinion of the Valuer-General is the difference between:

(a) the total of the land values of the lots had they been sold separately, and

(b) the total of the land values of the lots had they been sold to one person.

(3) An allowance for subdivision is to be ascertained in relation to a rating or taxing authority:

(a) as at the 1 July by reference to which the land was valued for the purposes of the valuation list for that authority current at the time the land became eligible for the allowance, and

(b) as at the 1 July by reference to which the land has been valued for the purposes of any subsequent valuation list for that authority.