# The Domestic Property (Valuation) Regulations 1991, Note: Explanatory note


(This note is not part of the Regulations)
These Regulations relate to the valuation of domestic properties in England and Wales under section 3 of the Local Government Finance and Valuation Act 1991. The properties that are domestic properties for these purposes are defined in the Schedule to that Act.
Regulation 2 sets out the basis of valuation. The value of any domestic property is to be taken to be the amount which, on the assumptions specified in paragraph (2) of the regulation, it might reasonably have been expected to realise if sold on the open market by a willing vendor on 1st April 1991.
Regulation 3 specifies, as the areas for which lists of domestic properties are to be compiled and maintained, English and Welsh districts, London boroughs, the area comprising the City of London, the Inner Temple and the Middle Temple, and the Isles of Scilly.
Regulation 4 makes provision for treating domestic property which is situated within more than one of the areas for which lists are to be compiled and maintained as situated in only one of those areas.
Regulation 5 makes provision for lists of domestic properties to be compiled by reference to valuation bands. The bands are set out, in relation to domestic property in England, in Part I of the Schedule and, in relation to domestic property in Wales, in Part II of the Schedule.

---
Source: https://www.legislation.gov.uk/uksi/1991/1934/note (the official version)
Page: https://openlegislation.uk/domestic-property-valuation-regulations-1991/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.