Australian Capital Territory Numbered Acts

RATES ACT 2004 (NO. 3 OF 2004) - SECT 14

    (1)     Rates of the fixed charge are imposed for a parcel of residential or commercial land that has an average unimproved value of the threshold amount or less.

    (2)     Rates are imposed for a parcel of residential or commercial land that has an average unimproved value of more than the threshold amount in accordance with the following formula:

FC + ((AUV - TA) × P)

    (3)     Rates are imposed for a parcel of rural land that has an average unimproved value of more than the threshold amount in accordance with the following formula:

(AUV - TA) × P

    (4)     In this section:

"AUV" means the average unimproved value of the parcel.

"FC "or fixed charge means the fixed charge determined under the Taxation Administration Act, section 139 for the parcel.

"P" means the percentage rate determined under the Taxation Administration Act, section 139 for the parcel.

"TA "or threshold amount means the threshold amount determined under the Taxation Administration Act, section 139 for the parcel.

Note     Different percentages may be determined for residential, commercial or rural land (see Legislation Act, s 48).