# The Rates (Capital Values, etc.) (Northern Ireland) Order 2006, Paragraph 1


For the purposes of Part II of this Order the capital value of a hereditament shall be the amount which, on the assumptions mentioned in paragraphs 3 to 9, the hereditament might reasonably have been expected to realise if it had been sold on the open market by a willing seller on 1st January 2005.

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Source: https://www.legislation.gov.uk/ukdsi/2006/0110800192/schedule/2/paragraph/1 (the official version)
Page: https://openlegislation.uk/draft-rates-capital-values-etc-northern-ireland-order-2006/schedule-2/paragraph-1
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.