SCHEDULES

SCHEDULE 12BASIS OF VALUATION

PART IIFARMHOUSES

F11

The net annual value of a house occupied in connection with agricultural land [F2or a fish farm] and used as the dwelling of a person—

a

whose primary occupation is the carrying on or directing of agricultural [F2or, as the case may be, fish farming] operations on that land; or

b

who is employed in agricultural [F2or, as the case may be, fish farming] operations on that land in the service of the occupier thereof and is entitled, whether as tenant or otherwise, so to use the house only while so employed,

shall, so long as the house is so occupied and used, be estimated by reference to the rent at which the house might reasonably be expected to let from year to year if it could not be occupied and used otherwise than as aforesaid.

F32

The capital value of a house occupied and used as mentioned in paragraph 1 shall be estimated on the assumption (in addition to those mentioned in Part I) that the house will always be so occupied and used.