Northern Territory Numbered Acts Northern Territory Numbered Acts(1) The amount of levy payable by the owner of a lot for a day is the amount of dollars calculated using the following formula:
|
R × UCV |
|
D |
where:
"R" means:
(a) for vacant land – 0.02; or
(b) for any other lot – 0.01.
"UCV" means the unimproved capital value of the lot within the meaning of the Valuation of Land Act 1963 .
"D" means the number of days in the financial year.
Note for subsection (1)
The levy is calculated on a daily basis to accommodate changes to the status of the lot or the UCV throughout the financial year.
(2) However, for a period of days that the levy is imposed, the amount of levy payable by the owner of a lot is nil for each day of the period if:
(a) the lot is not vacant land; and
(b) the lot is not unoccupied immediately before and immediately after the period; and
(c) the number of days in a period or periods under this subsection total no more than 120 days in a return period.
Note for subsection (2)
Subsection (2) is intended to accommodate fit outs and other arrangements made between periods of occupancy.