Australian Capital Territory Numbered Acts

RATES AND LAND TAX (AMENDMENT) ACT 1997 (NO. 33 OF 1997) - SECT 4

4. Section 4 of the Principal Act is amended by inserting in subsection (1) the following definition:“ ‘average unimproved value', in relation to a parcel of land for a particular year, means—

        (a)     where the parcel has not been rateable previously—the unimproved value of the parcel;

        (b)     where the parcel has been rateable for less than 3 years—the average unimproved value of the parcel over those years; or

        (c)     in any other case—the average unimproved value of the parcel over the 3 years immediately preceding the particular year;

disregarding any fraction of a dollar;”.