Principles of assessment

Tax1959309 of 312 sections available

Statutory text

(1) The fair assessment of all lands shall be calculated in accordance with the principles and restrictions setforth in the section. (2) No regard shall be had to any claim to hold land on privileged terms. (3) Regard shall be had in the case of agricultural land to the profits of agriculture, to the consideration paid for leases, to the sale prices of land and to the principal moneys on mortgages, and in the case of non-agricultural land, to the value of the land for the purpose for which it is held. (4) The fair assessment on land used for non-agricultural purposes shall not exceed thirty-three per centum of the estimated rental value of the land. (5) Where an improvement has been effected at any time in any holding held for the purpose of agriculture by or at the expense of the holder thereof, the fair assessment of such holding shall be fixed as if the improvement had not been made. (6) Except for special reasons to be approved in each case by the State Government, no increase in the fair assessment of a holding for the purpose of agriculture shall exceed fifty per centum of the existing assessment.

Study data processing for this section.

Some statutory text is still being prepared for this language version.

PDF: pending for this language.