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3.—(1) If a specified year is not a revaluation year, a billing authority’s small business rate baseline amount in respect of a designated area for the specified year is the amount calculated under sub-paragraph (2) or (3).
(2) For the specified year beginning with 1st April 2024, a billing authority’s small business rate baseline amount is calculated in accordance with the formula—
(3) For a subsequent specified year that is not a revaluation year, the small business rate baseline amount is calculated in accordance with the formula—
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