VALUATION OF LAND ACT 1916 - SECT 27B Lots in subdivisions to be separately valued

VALUATION OF LAND ACT 1916 - SECT 27B

27B Lots in subdivisions to be separately valued

(1) The Valuer-General may make valuations, in accordance with this section, of the land in a deposited plan on registration of the plan.

(2) If--

(a) one or more lots in a deposited plan in which all lots are owned by the same person, or

(b) one or more lots in a deposited plan that are owned by the same person and included in one valuation (whether or not made under this section),

is or are sold or otherwise conveyed to another person or is or are compulsorily acquired, fresh valuations of the land in the plan or included in the valuation concerned must be made by the Valuer-General in accordance with this section.

(3) Subsection (2) (a) does not apply if the Valuer-General has made a valuation under subsection (1) of the land in the deposited plan concerned.

(4) Separate valuations are to be made in respect of each lot comprising the land that is the subject of the valuation.

(5) However--

(a) the Valuer-General may, at the Valuer-General's discretion (but subject to section 26 (1)), include adjoining lots that are owned by the same person in the one valuation (which may also include other adjoining land owned by that person), and

(b) the Valuer-General must (subject to section 28) include in one valuation lots owned by the same person if those lots are worked in one holding for agricultural or pastoral purposes.

(6) Land that is required to be separately valued under this section is to be valued, for the purposes of any relevant 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 required to be separately valued, 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.

(7) Rates and taxes (other than land tax under the Land Tax Management Act 1956 ) levied or leviable on the land in the deposited plan for the rating and taxing years following the sale or other conveyance or compulsory acquisition (or, if the valuation was occasioned by the registration of a deposited plan, following that registration) are to be based on valuations made under this section. Those valuations are to be used until the land is included in a later valuation that may be used for rating or taxing purposes.

(8) If part only of a lot in a valuation under this section is subject to a particular rate, the value of the land is to be apportioned so as to show separately the value of that part.