(1) Subject to
subsection (2), the owner of any land —
(a) held
or granted pursuant to a Government agreement, which agreement provides that
for the purposes of imposing rates under this Act, the land is to be assessed
on the unimproved value thereof; or
(b) held
under a production licence for petroleum granted under the Petroleum Act 1967
,
and to whom this
section applies by virtue of the operation of section 533AA of the Local
Government Act 1960 4 as in force before the commencement of this Act is to
have the land valued for the purpose of imposing rates under this Act on the
following basis —
(c)
$1.00 per 4 000 m 2 for each of the first 40 000 ha or part thereof;
(d)
$0.75 per 4 000 m 2 for each of the second 40 000 ha or part thereof;
(e)
$0.50 per 4 000 m 2 for each of the third and fourth 40 000 ha or part
thereof;
(f)
$0.25 for each 4 000 m 2 in excess of 160 000 ha.
(2) This section does
not apply to any part of the land upon which —
(a)
there is erected a dwelling house; or
(b)
there stand any improvements that are used in connection with a commercial
undertaking other than that of the person for the time being entitled to the
benefit of the agreement referred to in subsection (1)(a) or the production
licence for petroleum referred to in paragraph (b) of that subsection.
[Section 6.30 amended: No. 19 of 2010 s. 51.]