Article 12 Basis of valuation

Northern Ireland

In Schedule 12 to the principal Order (basis of valuation)—

(a)

in Part I (general rule), after paragraph 4 there shall be inserted—

“
5
Regulations may provide that in applying paragraphs 1 to 4 in relation to a hereditament of a prescribed description, prescribed assumptions (as to the hereditament or otherwise) are to be made.
6
Regulations may—
(a)
provide that in arriving at a net annual value under paragraph 1 prescribed principles are to be applied; and
(b)
make provision for the preservation of such principles, privileges and provisions for the making of valuations on exceptional principles as apply for the purposes of this Order.”;

(b)

in Part III (plant or machinery)—

(i)

in paragraph 4 for the words from “paragraph 3” onwards there shall be substituted “this Part”;

(ii)

paragraph 6 shall be omitted;

F1(c)

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Annotations

Textual amendments

F1: Art. 12(c) repealed (1.4.2015) by Rates (Amendment) Act (Northern Ireland) 2009 (c. 8), s. 19(1), Sch. 2; S.R. 2014/306, art. 2, Sch.