PART IIIVALUATION

Valuations

Basis of valuation39.

(1)

For the purposes of this Order every hereditament shall be valued upon an estimate of its net annual value.

(2)

Without prejudice to any other statutory provision, [F1 but subject to Articles 39A and 39B,] Schedule 12 shall have effect for the purpose of providing for the manner in which the net annual value of a hereditament is to be, or may be, estimated, and the other provisions of that Schedule shall have effect.

(3)

Where any provision of Schedule 12 empowers the Department to make an order modifying any other provision of the Schedule or providing for the method by which the net annual value of any hereditament is to be determined, the order—

(a)

may contain such incidental, supplemental and transitional provisions as the Department considers necessary or expedient, including provisions modifying this Order;

(b)

shall be made only after consultation with any association which appears to the Department to be representative of district councils or, where the order affects only the district of a particular council, after consultation with the district council which appears to the Department to be concerned; and

(c)

shall be subject to affirmative resolution;

and an order providing for the method by which the net annual value of any hereditament is to be determined may provide for determining that value by the application of different methods of valuation to different parts of the hereditament.