{
  "url": "https://openlegislation.uk/rates-northern-ireland-order-1977/schedule-12/part-I/paragraph-2",
  "json_url": "https://openlegislation.uk/rates-northern-ireland-order-1977/schedule-12/part-I/paragraph-2.json",
  "legislation": "nisi/1977/2157",
  "legislation_title": "Rates (Northern Ireland) Order 1977",
  "legislation_url": "https://openlegislation.uk/rates-northern-ireland-order-1977",
  "path": "schedule/12/part/I/paragraph/2",
  "kind": "paragraph",
  "number": "2",
  "heading": null,
  "text": "(1) Subject to sub-paragraph (2), in estimating the net annual value of a hereditament for the purposes of any revision of a valuation list, regard shall be had to the net annual values in that list of comparable hereditaments which are in the same state and circumstances as the hereditament whose net annual value is being revised.\n(2) Sub-paragraph (1) shall not apply to any hereditament for whose valuation special provision is made by or under Part IV or any of the succeeding Parts of this Schedule, or to any hereditament whose net annual value falls to be ascertained by reference to the profits of the undertaking or business carried on therein.",
  "extent": "N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Words in Sch. 12 Pt. I para. 2(1) substituted (1.4.2007) by Rates (Amendment) (Northern Ireland) Order 2006 (S.I. 2006/2954 (N.I. 18)), arts. 1(3), 39, Sch. 2 para. 48(2)(a)(i); S.R. 2006/464, art. 2(4)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 12 Pt. I para. 2(1) substituted (1.4.2007) by Rates (Amendment) (Northern Ireland) Order 2006 (S.I. 2006/2954 (N.I. 18)), arts. 1(3), 39, Sch. 2 para. 48(2)(a)(ii); S.R. 2006/464, art. 2(4)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/nisi/1977/2157/schedule/12/part/I/paragraph/2",
    "retrieved_at": "2026-10-29T04:53:19.076889+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}