Paragraph 3 For a specified year that is a revaluation yearI1

England and Wales

(1)

Subject to sub-paragraph (2), if a specified year is a revaluation year a billing authority’s baseline amount in respect of a designated area for the specified year is the amount calculated in accordance with the formula—

J \times (\frac{L \times N_{2}}{M \times N_{1}})

(2)

For the specified year beginning with 1st April 2023, a billing authority’s baseline amount is calculated in accordance with the formula—

K \times (\frac{L \times N_{2}}{M \times N_{1}})

Annotations

Commencement

I1: Sch. 2 para. 3 in force at 1.4.2023, see reg. 1(2)