(1)  A council may, not earlier than 1 June and not later than 31 August in any year, in respect of each financial year, make one general rate for that year on all rateable land in its municipal area.

(2)  A council may make a general rate on rateable land whether or not it provides any services in respect of that land.

(3)  A general rate is to be based on one of the following categories of values of land:

(a) the land value of the land;

(b) the capital value of the land;

(c) the assessed annual value of the land.

(4)  In making a general rate, a council may set a minimum amount payable in respect of that rate if that rate does not include a fixed charge.

(5)  A minimum amount payable in respect of a general rate may not be set by a council under subsection (4) if the minimum amount would –

(a) in respect of the 2012-2013 financial year, apply to more than the relevant percentage in respect of the council, as determined under section 89B for that financial year, of the number of areas of land that is rateable land to which no variation under section 107 of the general rate applies; or

(b) in respect of any other financial year, apply to more than the relevant percentage in respect of the council, as determined under section 89B for that financial year, of the number of areas of land that is rateable land to which no variation under section 107 of the general rate applies.