Explanatory Memorandum

Rates (Amendment) (Northern Ireland) Order 2006

2006 No. 2954

Commentary on Articles

Part Ii – General

Article 5: Rateable values

16.This Article defines the rateable values of a hereditament and provides that the rateable net annual value and rateable capital value of a hereditament will be its NAV and capital value respectively, except where provided to the contrary in Schedule 7 to the Rates (Northern Ireland) Order 1977 (S.I. 1977 No. 2157(N.I. 28)) (‘the principal Order’).