Northern Territory Consolidated Acts Northern Territory Consolidated Acts(1) If the rate declared in respect of an allotment in a prescribed area is a valuation-based charge, the Minister must also declare which of the following bases of calculation of the assessed value applies to the allotment:
(a) the unimproved capital value of the allotment as it appears from the valuation roll;
(b) the improved capital value of the allotment as it appears from the valuation roll;
(c) the annual value of the allotment as it appears from the valuation roll.
(2) In this section:
"annual value", of an allotment, see section 8A of the Valuation of Land Act 1963.
"assessed value" , of an allotment, means:
(a) if the allotment is a mining tenement – 20 times the annual rent payable under the tenement; or
(b) otherwise – the value of the allotment calculated on the basis of calculation declared by the Minister under subsection (1).
"improved capital value", of an allotment, see section 8 of the Valuation of Land Act 1963 .
"unimproved capital value", of an allotment, see section 9 of the Valuation of Land Act 1963 .
"valuation roll", see section 4(1) of the Valuation of Land Act 1963 .