Land Development Duty Act.
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LEX-FAOC080914
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This Act concerns the imposition of a development charge on the occasion of every transfer of a fee simple of any land in a special development area at any time during a valuation period. A special development area shall be declared by the Minister. The Act provides rules for the assessment of value of land and the calculation of the development duty. Any person aggrieved by a decision of the Commissioner may appeal to the Income Tax Appeal Board against (a) the amount of any assessment of development duty under this Act; or (b) a refusal of the Commissioner to make any allowances under this Act.
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