Strata Schemes (Freehold Development) Act 1973 No 68
92 Rating of lots
(1) A reference in this section to a ratable parcel, or a ratable part of a parcel, in relation to any rate, is a reference respectively to a parcel or part of a parcel that is ratable as to that rate or would be so ratable but for any exemption or concession applicable to any portion of that parcel or part, as the case may be (not being, in the case of a rate for water, sewerage or drainage services, an exemption or concession applicable to that portion by reason of its situation in relation to any such services).(2) A rate on a ratable parcel or a ratable part of a parcel shall not be made or levied on the body corporate but, subject to this section, shall be made and levied in respect of each lot comprised in the parcel as if:(a) the proprietor of each such lot were the owner in fee simple in possession of the lot and it were a separate parcel of land having a value equal to the appropriate value apportioned to it under paragraph (c),(b) that proprietor were, subject to any exemptions or concessions that may be applicable to him or to the lot of which he is the proprietor, liable for any rate made and levied by the rating authority on the owners of land, and(c) the value of any such lot were an amount that bears to the corresponding value ascertained in accordance with section 90 of the ratable parcel or the ratable part of the parcel, as the case may be (after deducting therefrom any allowance applicable under Division 3 of Part 1B of the Valuation of Land Act 1916) the same proportion as the unit entitlement of that lot bears to the aggregate unit entitlement.(3) Where part only of a lot is ratable for any rate, the rate in respect of that lot shall be made and levied on the ratable part as if the value of that part were an amount that bears to the appropriate value of the lot, as ascertained under subsection (2) (c), the same proportion as the rental value of the ratable part bears to the rental value of the lot.