Hi Dallas
I agree with the above, effectively what the VG has done is said that they don’t see any additional value in the lands permitted use over its actual use. This does not affect the previous years postponed as there was additional value and they should be allowed to be written off as they age or be brought to account if the property is sold or there is a change (per the Act).
When this occurs with us, we enter a nil attributable part for record keeping purposes, and in effect that is what the VG has advised, but it is not necessary to do so.
The notice I guess is up to you how it looks and what it contains but a notice must be served to meet the requirements of the Act for liability. We use Pathway and it generates a separate notice page, it does separate arrears from current rates and interest charges.
Hope this is helpful.
Regards,
Andrew
