Queensland Consolidated Regulations
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LOCAL GOVERNMENT REGULATION 2012 - REG 74
Rateable value of land
(1) A local government must calculate the rates for land by using the
rateable value of the land.
(2) The
"rateable value" of land for a financial year is the value of the land— (a)
for the financial year; or
(b) as averaged over a number of financial years.
(3) A local government may use the value of the land averaged over a number of
financial years only if the local government decides, by resolution, to do so.
(4) The resolution must state whether the local government will use, for
deciding the rateable value of the land— (a) the 2-year averaged value of
the land; or
(b) the 3-year averaged value of the land.
(5) However, if the
value of the land averaged over a number of financial years is more than the
value of the land for the financial year, the rates must be calculated using
the value of the land for the financial year.
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