Australian Capital Territory Numbered Acts

RATES AND LAND TAX AMENDMENT ACT 2003 (NO. 28 OF 2003) - SECT 5

substitute

    (3)     Rates are imposed in relation to each parcel of residential or commercial land that has an average unimproved value of more than $19 000 in accordance with the following formula:

$320 + ((AUV - $19 000) × P).

    (4)     Rates are imposed in relation to each parcel of rural land that has an average unimproved value of more than $19 000 in accordance with the following formula:

(AUV - $19 000) × P.

    (5)     In this section:

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

"P"     means—

        (a)     for a parcel of residential land—0.5103%; or

        (b)     for a parcel of commercial land—1.2694%; or

        (c)     for a parcel of rural land—0.25515%.