# The Rates (Maximum Capital Value) Regulations (Northern Ireland) 2007, Note: Explanatory note

Extent: N.I.

(This note is not part of the Regulations)
These Regulations provide for the introduction of a maximum capital value for rating purposes in the case of domestic properties other than properties in the social housing sector. The maximum capital value is £500,000 except in the case of certain domestic properties which are distinguished in the capital value list as partly exempt from rates in which case the maximum capital value varies between £250,000 and £500,000 depending on the extent of exemption (regulation 2).
The Regulations provide that a person shall be liable for rates in respect of a domestic property to which the Regulations apply on the basis of its maximum capital value rather than its rateable capital value, if its rateable capital value exceeds its maximum capital value (regulation 3).
The Regulations also provide for the modification of certain statutory references in the case of such a property (regulation 4).

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Source: https://www.legislation.gov.uk/nisr/2007/184/note (the official version)
Page: https://openlegislation.uk/rates-maximum-capital-value-regulations-northern-ireland-2007/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.