Article 4 Rateable values

(1)

In the case of a hereditament to which this Order applies, paragraphs 2 to 2B of Schedule 6 to the Local Government Finance Act 1988^f1 shall not apply, and its rateable value shall be an amount equal to the sum of either—

(a)

£6,405 per megawatt of the declared net capacity of the generating plant (where the primary source of energy used by the plant is wind power), or

(b)

£12,810 per megawatt of its declared net capacity (in any other case),

expressed in each case to the nearest hundredth part of a megawatt.

(2)

Where (apart from this paragraph) any rateable value determined under paragraph (1) would include a fraction of a pound—

(a)

the fraction shall be made up to one pound if it would exceed 50p, and

(b)

the fraction shall be ignored if it would be 50p or less.

Annotations

Footnotes

f1: Paragraph 2 is amended and paragraphs 2A and 2B inserted by paragraph 38(3) to (11) of Schedule 5 to the Local Government and Housing Act 1989.