New South Wales Consolidated Acts
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LAND TAX MANAGEMENT ACT 1956 - SECT 62K
Unutilised value allowance to be ascertained on application of owner
62K Unutilised value allowance to be ascertained on application of owner
(1) The owner of land may apply to the Chief Commissioner for an unutilised
value allowance to be ascertained for the land value of the land. The
application must be in the form required by the Chief Commissioner and be
accompanied by such supporting information as the Chief Commissioner may
request.
(1A) If satisfied that the land to which such an application relates
satisfies the description in any of the paragraphs of section 62J (1), the
Chief Commissioner must refer the application to the Valuer-General for
determination of an unutilised value allowance.
(2) The Valuer-General must
then ascertain the allowance if the land is eligible to have that allowance
ascertained.
(3) An allowance ascertained by the Valuer-General under this
Division is to be entered by the Valuer-General in the Register in respect of
the land value to which it relates and is to be shown in any assessment to
which it is applicable.
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