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RATES AND LAND TAX (AMENDMENT) ACT 1997 (NO. 33 OF 1997) - SECT 9

Unit subdivisions

9. Section 24A of the Principal Act is amended—

    (a)     by omitting from paragraph (3) (a) all the words after “being an amount” and substituting “determined in accordance with subsection (3A)”;

    (b)     by inserting after subsection (3) the following subsection:

“(3A) Subsections 13 (2), (3) and (4) apply to impose rates on a unit that is part of a parcel of land subdivided into units and common property as if—

        (a)     a reference to a parcel of land were a reference to such a unit; and

        (b)     a reference to the average unimproved value in relation to that unit were a reference to the value determined in accordance with the following formula:

    1997-3301.jpg

        where—

    UE     is the unit entitlement of the particular unit;

    TUE     is the unit entitlement of all the units in the units plan;

    AUV     is the average unimproved value of the parcel of land.”;

        and

    (c)     by omitting from paragraph (4) (a) “, 13”.



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