HOUSING ACT 2003 - SECT 95
Exemption from rating
HOUSING ACT 2003 - SECT 95
Exemption from rating
95 Exemption from rating
(1) Land that is portfolio property is not rateable land for the
Local Government Act 2009 .
(2) Subsection (1) does not apply to— (a) land
that is the subject of a section 24 contract or a section 113 contract; or
(b) land in which a person has a share that the person bought under a
section 24 contract or a section 113 contract.
(3) In this section—
"section 24 contract" means a contract of sale, entered into under the
repealed Act, section 24 , under which— (a) the purchasing price, other than
any deposit, is payable in 2 or more instalments; or
(b) the sale is of a
share in a house and land.
"section 113 contract" means a contract of sale, entered into under
section 113 , under which— (a) the purchasing price, other than any deposit,
is payable in 2 or more instalments; or
(b) the sale is of a share in a house
and land.