(1) The Comptroller shall make assessment for taxes on the basis of the following—
(a) the market value in relation to commercial property or residential property;
(b) where a property is used as both a residential property and commercial property;
(c) the tax rolls of the preceding year;
(d) information given by the Registrar of Lands, Register of Deeds and Mortgages or by any owner under the provisions of this Act;
(e) any other lawful source.
(Substituted by Act 4 of 2011)
(2) An owner of a commercial property shall, prior to any period which may be specified by the Comptroller by notice to the owner, cause a valuation to be made of his or her commercial property by a recognised valuer and shall submit such valuation to the Comptroller for purposes of subsection (1)(b).
(3) The period referred to is any period of assessment determined by the Comptroller.
(Substituted by Act 30 of 2001)