Article 5 Rateable valuesI1

(1)

For Article 17 of the principal Order (ascertainment of rateable value) and the immediately preceding cross-heading there shall be substituted the following—

“ Rateable values
Rateable values
17
(1)
For the purposes of this Order the rateable values of a hereditament are—
(a)
its rateable net annual value (if any); and
(b)
its rateable capital value (if any).
(2)
For the purposes of this Order the rateable values of a hereditament shall be ascertained in accordance with the provisions of Schedule 7.”.

(2)

In Schedule 7 to the principal Order (rateable value of hereditaments), for paragraph 1 there shall be substituted the following paragraph—

“
1
Except as provided to the contrary in this Schedule—
(a)
the rateable net annual value of any hereditament shall be its net annual value (if any); and
(b)
the rateable capital value of any hereditament shall be its capital value (if any).”.

Annotations

Commencement

I1: Art. 5 wholly in operation at 1.12.2006, see art. 1(3) and S.R. 2006/464, art. 2(2), Sch. 2 (with transitional provisions in S.R. 2006/468, art. 3(1), Sch)