Taxable value assessed under Principal Act | Rates of land tax payable | |
Not more than $400,000 | 0.4 cents for each $1 | |
More than $400,000 but not more than $500,000 | $1,600 plus 0.6 cents for each $1 by which the taxable value exceeds $400,000 | |
More than $500,000 | $2,200 plus 1.4 cents for each $1 by which the taxable value exceeds $500,000 |