Northern Territory Consolidated Acts Northern Territory Consolidated Acts4AC. Valuing certain interests in property
(1) If property is held in common by 2 or more persons, the value of the interest of an owner in the property is assessed by multiplying the total value of the property by a fraction representing the owner's proportionate share of ownership.
(2) The interest of a joint owner of property is valued as if both or all joint owners were tenants in common in equal shares.
(3) This section is applicable both to unencumbered and dutiable value.