LAND TAX ACT 2005 - SECT 23 Taxable value of home units not valued separately

LAND TAX ACT 2005 - SECT 23

    (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