Western Australian Consolidated Acts Western Australian Consolidated Acts (1) Where the
value assigned to land under the Valuation of Land Act 1978 is
increased or decreased pursuant to an interim valuation under that Act, the
Corporation may, in the case of an increase, and shall, in the case of a
decrease, re-assess any charge in respect of the land made for a period during
which the interim valuation comes into force that is based on the value that
has been changed and make such additional charge, or give such rebate or
refund, for the period as is appropriate by reason of the change in value.
(2) Except to the
extent expressly provided in subsection (1), that subsection does not
limit the generality of section 41(1)(h).
(3) Where, in
accordance with subsection (1), a charge for a year may be reassessed by
reason that an increased gross rental value has been assigned to land pursuant
to an interim valuation under the Valuation of Land Act 1978 , and the
value assigned pursuant to the interim valuation exceeds the value (in this
section referred to as the notional value ) that would have been assigned to
that land immediately before the last general valuation in respect of gross
rental values if it had then been developed and used as it is at the time the
value was in fact assigned pursuant to the interim valuation, the amount of
the charge may be assessed —
(a) if
the last general valuation affecting the gross rental value of that land came
into force at the commencement of the year for which the charge is made, by
reference to the value assigned pursuant to the interim valuation reduced by
two-thirds of the amount of the notional increase in value as defined in
subsection (4);
(b) if
the last general valuation affecting the gross rental value of that land came
into force one year before the commencement of the year for which the charge
is made, by reference to the value assigned pursuant to the interim valuation
reduced by one-third of the amount of the notional increase in value as
defined in subsection (4).
(4) For the purposes
of subsection (3), the notional increase in value of land referred to in
that subsection is the amount by which the value assigned pursuant to the
interim valuation exceeds the notional value.
(5) Where, for the
purposes of this Act, the coming into force of a general valuation is
postponed under section 41F in relation to any land, the value assigned
to that land under that general valuation or under an interim valuation
referred to in subsection (3) of that section shall be taken for the
purposes of subsections (3) and (4) to have been assigned pursuant to a
general valuation coming into force when the postponed general valuation comes
into force in relation to that land for the purposes of this Act.
[Section 41E inserted by No. 24 of 1987
s. 8 3 ; amended by No. 17 of 1993 s. 13 6 ;
No. 73 of 1995 s. 41.]