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Regulation 13 Changes in rateable value

Original text. Later amendments are not shown.

(1)

Where the rateable value of lands and heritages to which this Part applies is increased with effect from a day in the relevant year subsequent to 31st March 2007, the amount payable as rates in respect of those lands and heritages for any day in the relevant year (“the effective day”) on or after that effective day shall, subject to Parts IV to VI, be calculated in accordance with the formula–

AD+(IRV-RV)×PF366

where–

  • AD, for the purposes of this regulation, is the amount determined under whichever of regulations 11(1) or 12 applies (before application of Parts IV to VI) in respect of those lands and heritages for the day immediately prior to the effective day;

  • IRV is the increased rateable value of those lands and heritages;

  • RV is their rateable value immediately prior to the effective day; and

  • PF has the same meaning as in regulation 9(1).

(2)

Where the rateable value of lands and heritages to which this Part applies is reduced with effect from a day in the relevant year, the amount payable as rates in respect of those lands and heritages for any day in the relevant year on or after that effective day shall, subject to Parts IV to VI, be calculated in accordance with the formula–

AD×RRVRV

where–

  • AD and RV have the same meanings as in paragraph (1); and

  • RRV is the reduced rateable value of those lands and heritages.

(3)

Where the rateable value of lands and heritages is changed for a second or subsequent time whilst this Part applies to them, paragraphs (1) and (2) shall have effect with the substitution, in the definition of “AD” in paragraph (1), for “whichever of regulations 11(1) or 12 applies” of “this paragraph or paragraph (2)”.