s. s. 23 26 in relation to a tax year, the taxable value of the home unit is determined in accordance with the formula— where— A is the net annual value of the home unit; B is the net annual value of all home units on the land; C is the taxable value of the land. (3) In this section— has the same meaning as in the net annual value Valuation of Land Act 1960. Division 4—Land tax on transmission easements 24 Imposition of land tax on transmission easements Land tax is imposed in respect of each year on all transmission easements in other than exempt transmission easements. 25 Who is liable for land tax on transmission easements? The transmission easement holder is liable to pay land tax on a transmission easement. 26 When must land tax be paid? The day specified in a notice of assessment of land tax on transmission easements must be not less than 14 days after the day the notice is served on the taxpayer. Note
in relation to a tax year, the taxable value of the home unit is determined in accordance with the formula— where— A is the net annual value of the home unit; B is the net annual value of all home units on the land; C is the taxable value of the land. (3) In this section— net annual value has the same meaning as in the Valuation of Land Act 1960. Division 4—Land tax on transmission easements 24 Imposition of land tax on transmission easements s. 23 Land tax is imposed in respect of each year on all transmission easements in other than exempt transmission easements. 25 Who is liable for land tax on transmission easements? The transmission easement holder is liable to pay land tax on a transmission easement. 26 When must land tax be paid? s. 26 The day specified in a notice of assessment of land tax on transmission easements must be not less than 14 days after the day the notice is served on the taxpayer. Note