(1) If the
Valuer-General values the gross rental value of a parcel under the
Valuation of Land Act 1978 for rating and taxing purposes, each lot of the
parcel must, despite that or any other Act, be valued separately as a single
lot.
(2) Subject to
subsection (3), if a local government or other authority (the rating
authority) authorised to make and levy rates on the parcel uses a valuation of
the gross rental value of the lots of the parcel —
(a) the
strata company is not liable in relation to the parcel or any lot for a rate
made and levied by the local government or the rating authority, as the case
may be; and
(b) the
owner of each lot comprised in the parcel is, subject to any exemptions or
concession that may be applicable, liable for a rate made and levied by the
rating authority.
(3) If part only of a
lot is liable to a rate, that rate must be made and levied on an amount that
bears the same proportion to the value of the lot as the rental value of the
part so liable bears to the rental value of the lot.
[Section 71, formerly section 63 amended: No. 14
of 1996 s. 4; amended, renumbered as section 71 and relocated: No. 30 of 2018
s. 65 and 84.]