For all purposes in
relation to the imposition, assessment or recovery of land tax or metropolitan
region improvement tax in respect of a parcel subdivided by a strata scheme,
the following provisions have effect —
(a) the
unimproved value of the parcel shown in the valuation must be apportioned by
the Commissioner of State Revenue between the lots comprised in the parcel in
proportion to the unit entitlements of the respective lots;
(b) the
strata company is not liable in respect of the parcel for land tax or
metropolitan region improvement tax;
(c) for
the purposes of the Land Tax Assessment Act 2002 and the
Planning and Development Act 2005 , and subject to any concessions or
exemptions that may be applicable, each lot is taken to be a separate parcel
of land with an unimproved value equal to that apportioned to it under
paragraph (a).
[(2) deleted]
[Section 73, formerly section 65, amended: No. 58
of 1995 s. 61; No. 45 of 2002 s. 23(2) and (3); No. 38 of 2005 s. 15; amended,
renumbered as section 72 and relocated: No. 30 of 2018 s. 67 and 84.]