Australian Capital Territory Consolidated Acts Australian Capital Territory Consolidated Acts(1) This section applies to a parcel of land that is a unit subdivision.
(2) If rates imposed for the parcel for the year when the units plan is registered are not paid before registration of the units plan, they are payable by the person who was the owner of the parcel on the day before the day when the units plan was registered.
(3) On and after 1 July after the day when the units plan is registered or, if it is registered on 1 July, on and after that 1 July—
(a) the rates imposed for the parcel are payable by the unit owners; and
(b) the amount payable by each unit owner is the amount worked out under subsection (5); and
(c) no rates for the parcel are payable by the owners corporation.
(4) Rates are imposed on a unit that is part of a unit subdivision as if a reference to a parcel of land were a reference to the unit.
(5) In working out the rates payable for the unit, the average unimproved value of the unit is the amount worked out in accordance with the following formula:
(6) In subsection (5):
"AUV "means the average unimproved value of the parcel.
"TUE "means the unit entitlement of all the units in the units plan.
UE means the unit entitlement of the unit.