Amendment status not verified — confirm the current text below against the official source.
(1) Where a Board is of the opinion that the value of land in any area in its charge is likely to increase as aresuit of the development at public expense of any area adjoining a highway, it may, With the previous consent of the State Government, decide to ievy abetterment tax in respect of such area: Provided that where in pursuance of Section 31 the Board has acquired any area and has had it properly laid out and sold or leased to the public, no betterment tax shall be levied in respect of such area. (2) The State Government, when approached by the Board under sub—section (1) for its consent to the levy of betterment tax in any area, shall while giving such consent determine the percentage rate, not exceeding 80% ot' the betterment value, at which the tax Shall be levied in such area and communicate the same to the Board. (3) Where it is decided to levy abetterment tax in respect of any area, the Board shall cause the decision to be notified in the official gazette and sha1l also seCure further publicity to the notification in the manner prescribed under sub—section (4) of Section 11. (4) The notification shall speCify :— (a) the exact area in which the betterment tax is to be IeVEed, (b) the date on which the prevailing land value shah be deemed to be the basic value for purposes ofcommuting betterment, and (c) the percentage rate of betterment value at which better- ment tax shall be levied, as determined by the State Government under sub-sectinn (2). (5) When the development or improtemeet of the area adjoining the highway has been completed or, in the opinion of the Board, has reached a stage sufficiently advanced to enable the resulting betterment to be determined, the Board shall notify in the ofliciai gazette the date on which the execution of: the scheme has been~ completed or shall be deemed to have been completed, and shall also cause further publicity to such notification in the manner prescribed under sub—section {4) of Section