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LAND TAX MANAGEMENT ACT 1956 - SECT 23
Mortgages
23 Mortgages
(1) A mortgagee or other person owning any estate or interest in land by way
of security for money shall not be liable to land tax in respect of that
mortgage, estate or interest--
Provided that a mortgagee in possession of land, or any other person in
possession of land by way of security for money shall, so long as such
possession continues (though not to the exclusion of the liability of any
other person) be deemed to be the owner of the land; and the mortgagor shall
be deemed to be the primary taxpayer, and the mortgagee in possession to be
the secondary taxpayer; and there shall be deducted from the land tax payable
by the latter in respect of the land such amount (if any) as is necessary to
prevent double taxation--
Provided further that the foregoing proviso shall not apply-- (a) to any
mortgagee or person in possession whose possession began before the first day
of November one thousand nine hundred and fifty-six until a period of three
years has elapsed since that date, or
(b) to any mortgagee or person in
possession whose possession began on or after the first day of November one
thousand nine hundred and fifty-six until a period of three years after he or
she has entered into possession.
(2) For the purposes of this section a
mortgagee in possession shall include a mortgagee of land who is using such
land, or who is in receipt of the rents or profits of such land, or who is in
receipt of the income from any business carried on on such land, or who has
appointed a receiver of the rents or profits of such land.
(3) Nothing in
this section affects section 46.
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