(1) The amount of land tax is to be (a) determined on the assessed land value or the apportioned assessed land value of the land as at 1 July in each financial year; and(b) set at a rate specified in a land tax rating Act.(2) Land tax may be set in respect of (a) principal residence land; and(b) primary production land; and(ba) . . . . . . . .(c) general land.