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Statutory Rules of Northern Ireland |
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You are here: BAILII >> Databases >> Statutory Rules of Northern Ireland >> The Rates (Maximum Capital Value) Regulations (Northern Ireland) 2007 No. 184 URL: http://www.bailii.org/nie/legis/num_reg/2007/20070184.html |
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| Made | 20th March 2007 | ||
| To be laid before Parliament under paragraph 7(3) of the Schedule to the Northern Ireland Act 2000 | |||
| Coming into operation | 1st April 2007 |
Maximum capital value
2.
—(1) Subject to paragraphs (2) to (5), the maximum capital value of a specified hereditament which has a rateable capital value shall be £500,000.
(2) This paragraph applies to a specified hereditament which –
(3) Where a hereditament to which paragraph (2) applies is wholly used for domestic purposes which are also exempting purposes, its maximum capital value shall be £250,000.
(4) Where a hereditament to which paragraph (2) applies is partly used for domestic purposes which are also exempting purposes, its maximum capital value shall be determined in accordance with the formula—
| ( | A × £250,000 | ) | |
| £250,000 + | ( | ) | |
| ( | ) |
(5) For the purposes of paragraphs (3) and (4) there shall be disregarded any use of the hereditament which is not relevant to its capital value.
Liability to be rated according to maximum capital value
3.
In respect of a specified hereditament which has a rateable capital value, a person shall be liable for rates in respect of its maximum capital value instead of its rateable capital value, if its rateable capital value exceeds its maximum capital value.
References
4.
In respect of a specified hereditament which has a rateable capital value which exceeds its maximum capital value—
Sealed with the Official Seal of the Department of Finance and Personnel on
20th March 2007
L.S.
Brian McClure
A senior officer of the Department of Finance and Personnel
[2] S.I. 1977/2157 (N.I.28); Article 18(2) and (3) was inserted by Article 6 of the Rates (Amendment) (Northern Ireland) Order 2006 (S.I. 2006/2954 (N.I. 18)); see Article 2(2) of S.I. 1977/2157 (N.I. 28) for the definitions of "the Department" and "regulations"; the definition of "regulations" was amended by Schedule 3 to the Departments (Northern Ireland) Order 1982, S.I. 1982/338 (N.I.6), and by paragraph 2(10) of Schedule 2 to the Rates (Amendment) (Northern Ireland) Order 2006back
[3] Article 41 was amended by paragraph 24 of Schedule 2 to the Rates (Amendment) (Northern Ireland) Order 2006back
[4] Article 23A was inserted by Article 7 of the Rates (Amendment) (Northern Ireland) 2006back
[5] Article 9(5)(b) was substituted by paragraph 5 of Schedule 2 to the Rates (Amendment) (Northern Ireland) Order 2006back
[6] Article 30(2)(b) was amended by paragraph 13(2) of Schedule 2 to the Rates (Amendment) (Northern Ireland) Order 2006back
[7] Article 30A was inserted by Article 14 of the Rates (Amendment) (Northern Ireland) Order 2006back
[8] Article 31A (10) was substituted by Article 17(5) of the Rates (Amendment) (Northern Ireland) 2006back
[9] Article 16(1)(a) was amended by paragraph 11(2) of Schedule 2 to the Rates (Amendment) (Northern Ireland) Order 2006back
