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Local Government Act 1929

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This is the original version (as it was originally enacted).

1There shall be estimated and certified as respects each rating area—

(a)the expenditure in respect of the standard year which would have fallen to be borne by rates levied in that area on the following assumptions :—

(i)that, elsewhere than in the County of London, section nine of the Rating and Valuation Act, 1925, and not paragraph 10 of the Seventh Schedule to that Act, had been in operation with respect to precepts issued by county councils; and

(ii)that the expenditure on the transferred services had been expenditure by a county council or a county borough council, and, in the case of a county, had been expenditure for general county purposes; and

(iii)that, in the case of the County of London, the London (Equalisation of Rates) Act, 1894, had not been in force in the standard year;

(b)the unreduced rateable value of the area ;

(c)the reduced rateable value of the area ;

(d)the difference between the unreduced rateable value and the reduced rateable value of the area; which difference increased by a percentage ascertained in the prescribed manner in respect of losses in the collection of rates is hereinafter referred to as " the loss of rateable value."

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