Victorian Consolidated Legislation

Land Tax Act 2005 - SECT 23

Taxable value of home units not valued separately

23. Taxable value of home units not valued separately



(1) This section applies if there are 2 or more home units on land.

(2) If a home unit is not valued separately as at the relevant date (within
the meaning of section 19) in relation to a tax year, the taxable value of the
home unit is determined in accordance with the formula-

where-

A is the net annual value of the home unit;

B is the net annual value of all home units on the land;

C is the taxable value of the land.

(3) In this section-

net annual value has the same meaning as in the Valuation of Land Act 1960.

Division 4-Land tax on transmission easements