Annual value of land and building.

The annual value of any vacant land and building in any ward of the Municipality shall be the sum of the amount arrived at by multiplying the value per unit area of such vacant land by the total area of such vacant land and the amount arrived at by multiplying the value per unit area of the covered space of such building by the total area of such covered space, if any, and shall be determined accordingly by an order by the Chief Municipal Officer, and a copy of the order shall be supplied within ten days thereof to the owner or the occupier of the land or the building, as the case may be. i such Form, and in such manner, as may be prescribed.