10. Valuation method

The Valuation method of ascertaining the amount of the land betterment charge in respect of any chargeable consent given in relation to a development or subdivision of, or a controlled activity with respect to, any land involves a valuation by a designated valuer according to section 8(1) or (2) and Part 3 (whichever is applicable) of the increase in the value of the land likely to accrue from the giving of the chargeable consent.

For the purposes of this Act, the Chief Valuer or another individual may be appointed by the Authority to ascertain the amount of land betterment charge by the Valuation method.

However, no land betterment charge ascertained using the Valuation method is payable in respect of any chargeable consent in relation to a development or subdivision of, or a controlled activity with respect to, any land where the price the land might reasonably obtain if sold at the relevant point in time pertaining to the chargeable consent, does not exceed the price if sold before that relevant point in time.