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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"section 24 contract" means a contract of sale, entered into under the repealed Act, section 24 , under which—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.