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3. Amendment of sections 3 and 75 of Bom. XVIII of 1925. | Borough Municipalities (Validation of certain Taxes on Buildings and Lands) Act, 1965. | LAWGIST

Borough Municipalities (Validation of certain Taxes on Buildings and Lands) Act, 1965.

All Sections

3. Amendment of sections 3 and 75 of Bom. XVIII of 1925.

§3

Summary

In the Boroughs Act,- (a) in section 3, after clause (17), the following clause shall be inserted, and shall be deemed always to have been inserted, namely:- "(17A) rate on buildings or lands includes any tax imposed on buildings or lands;"; (b) in section 75, for the Explanation at the end, the following Explanation shall be substituted, and shall be deemed always to have been substituted, namely :- "Explanation.- For the purposes of a rate on buildings or lands, the basis of valuation may be- (i) the annual letting value; (ii) the annual value; (iii) the floor area, in the case of Mills, Factories and buildings and lands connected therewith; (iv) the capital value, in the case of vacant lands."

<span style="margin-left:15px;"></span>In the Boroughs Act,-<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>a</i>) in section 3, after clause (<i>17</i>), the following clause shall be inserted, and shall be deemed always to have been inserted, namely:-<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>"(<i>17A</i>) rate on buildings or lands includes any tax imposed on buildings or lands;";<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span><i>(b)</i> in section 75, for the <i>Explanation</i> at the end, the following <i>Explanation</i> shall be substituted, and shall be deemed always to have been substituted, namely :-<br> <span style="margin-left:15px;"></span><i>"Explanation.</i>- For the purposes of a rate on buildings or lands, the basis of valuation may be-<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>i</i>) the annual letting value;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>ii</i>) the annual value;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>iii</i>) the floor area, in the case of Mills, Factories and buildings and lands connected therewith;<br> <span style="margin-left:15px;"></span><span style="margin-left:15px;"></span>(<i>iv</i>) the capital value, in the case of vacant lands."<br>

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