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Undeveloped Land Duty

value, site, purposes, buildings, acre and agricultural

UNDEVELOPED LAND DUTY. A duty imposed by the Finance (1909-10) Act, 1910 (Section 16), and payable for the year ending March 31, 1910, and every subsequent year, in respect of the site value of undeveloped land, of one halfpenny for every twenty shillings of that site value.

Land is deemed to be undeveloped if it has not been developed by the erection of dwelling-houses or of buildings for the pur poses of any business, trade, or industry other than agriculture, or is not otherwise used bond fide for any business, trade, or industry other than agriculture.

Where land has been so developed or used and the buildings become derelict or the land not used for those purposes, it shall, on the expiration of one year from the time the buildings became derelict or the land not so used, be treated as undeveloped land.

Where, with a view to land being deve loped, an expenditure on roads or sewers has been incurred, the land shall, to the extent of one acre for every of that expenditure, be treated as developed land (unless ten years have elapsed since the date of the expenditure).

Where increment value duty has been paid in respect of any undeveloped land, the site value shall, for the purposes of assessment for the undeveloped land duty, be reduced by a sum equal to five times the amount paid as increment value duty.

Undeveloped land does not include minerals.

Section 2S enacts, that the Commissioners shall, for the purpose of obtaining a periodi cal valuation, cause a valuation to be made of undeveloped land, in 1914 and in every subsequent fifth year.

Eremptions.

Land where the site value does not exceed per acre.

Where the site value of agricultural land exceeds £50 per acre, the duty shall only be charged on the amount by which the site value exceeds the value for agricultural purposes.

Parks, etc., which are open to the public as of right.

Parks, etc., where reasonable access is enjoyed by the public.

Land which is kept free of buildings in pursuance of any definite scheme and which it is reasonably necessary in the interests of the public that it should be kept free.

Land hood fide used for games, etc., where it is so used under an agreement with the owner which, as originally made, could not be determined for a period of at least five years.

Land not exceeding an acre occupied together with a dwelling-house, or land being gardens so occupied when the site value of the gardens and the house does not exceed twenty times the annual value of the gardens and house as adopted for the purpose of income tax under Schedule A. (This exemption shall not apply so as to exempt more than 5 acres. Where there are more than 5 acres the Commissioners shall determine which five are to be exempted.) Where agricultural land is held under a tenancy created by a lease or agree ment made before April 30, 1909, no duty is to be charged on the site value during the original term of the lease or agreement while the tenancy continues thereunder.

Agricultural land, occupied and culti vated by the owner, where the total value of all land belonging to the same owner does not exceed £500. ('' Owner " includes a person who holds land under a lease originally granted for fifty years or more.) Land held for charitable purposes.

Land whilst it is held by a statutory company for the purposes of the undertaking and which cannot be appropriated except to those pur poses. (Statutory company means any railway, canal, dock, or water company.)