(4)[The Municipal Council shall in the case of land used exclusively for agricultural purposes and which is more than one hectare in extent, levy, these taxes on its annual value, excluding one hectare therefrom, at such percentage as may be fixed by it:Provided that such percentage shall not exceed the maximum, if any, fixed by Government.Explanation. - For the purpose of this section the annual value of land shall be deemed to be the total annual rent which can be reasonably be expected if it is leased out from year to year.] [Inserted by Act 8 Of 1995.]
