Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) The owner of land that is or contains a heritage place is entitled to the benefit of this section in respect of the valuation of that land.
(2) Where the Valuer-General is satisfied that a person is entitled to the benefit of this section, he may, and shall at the request of that person, value the land:
(a) taking into account the fact that the land is or contains a heritage place; and
(b) disregarding any potential use of the land that is inconsistent with the preservation of the value of the land or the relevant part of the land as a heritage place,
and any such valuation shall operate for the purposes of any rating or taxing Act on the basis of the valuation of the Valuer-General.
(3) Where, after the Valuer-General has caused a valuation of land to be made under section 10 or 10A, he causes a valuation of the land to be made under subsection (2), the valuation shall:
(a) be made of the improved capital value, the annual value or the unimproved capital value whichever was determined in the previous valuation of the land; and
(b) be the valuation as at the date on which the previous valuation was made.
(3A) Where the Valuer-General causes a valuation to be made of land under section 10 or 10A and the Valuer-General is satisfied that the owner of the land is entitled to the benefit of this section, the valuation of the land shall be made:
(a) taking into account the fact that the land is or contains a heritage place; and
(b) disregarding any potential use of the land that is inconsistent with the preservation of the value of the land or the relevant part of the land as a heritage place,
and any such valuation shall operate for the purposes of any rating or taxing Act on the basis of the valuation of the Valuer-General.
(4) Where the Valuer-General makes a valuation under subsection (2), he shall inform the owner of the land, in writing, of the valuation and of the owner's obligations under subsection (6).
(5) If at the time a liability to pay a rate, tax or impost on land arises the land is owned by a person who subsequently establishes an entitlement to the benefit of this section, neither the validity nor the extent of the liability is affected by this section.
(6) Where land has been valued under this section and the land ceases to be a heritage place, the owner shall within 28 days inform the Valuer-General accordingly and shall furnish such further information, if any, as the Valuer-General requires.
Penalty: $2,000.
(7) In this section:
"heritage place" has the same meaning as it has in the Heritage Conservation Act .
"rating or taxing Act" means an Act under which a rate, tax or impost is levied or imposed on land.