# The Rates (Transitional Provisions) Order (Northern Ireland) 2007, Article 3: Transitional net annual value

Extent: N.I.

The transitional net annual value of a specified hereditament shall be determined in accordance with the formula—
A×B=Cwhere—
A is the net annual value of the hereditament which is shown immediately before the coming into operation of this Order in the valuation list then in force;
B is the conversion factor for the district in which the hereditament is situated as set out in the Schedule; and
C is the transitional net annual value.

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Source: https://www.legislation.gov.uk/nisr/2007/191/article/3 (the official version)
Page: https://openlegislation.uk/rates-transitional-provisions-order-northern-ireland-2007/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.