VALUATION OF LAND ACT 1916 - SECT 14Y
How apportionment factor is determined
VALUATION OF LAND ACT 1916 - SECT 14Y
How apportionment factor is determined
14Y How apportionment factor is determined
(1) The apportionment factor is the proportion (expressed as a percentage)
that the rental value of the part of that land that is non-residential land
bears to the rental value of the mixed development land as a whole.
(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 mixed development land, 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.