Rates in respect of unoccupied property

The rate to be levied under this Act in respect of unoccupied property shall be assessed on the value thereof and shall be as follows, (a) in respect of property of the value of three hundred dollars and over, a rate not exceeding two per centum per annum; (b) in respect of property of a value less than three hundred dollars, the sum of one dollar, Provided that the sum of one dollar shall be the minimum rate payable in respect of any property or holding of real property.