Regional rates

1Regional rates

1

This section applies in respect of the year ending 31 March 2020.

2

The regional rate to be levied on the rateable net annual values of hereditaments is to be 34.01 pence in the pound.

3

The regional rate to be levied on the rateable capital values of hereditaments is to be 0.4574 pence in the pound.

4

A rate specified in subsection (2) or (3) may be varied by an order made by the Department under Article 7(1) of the Rates Order.

5

An order made by virtue of subsection (4)—

a

may be made only after the first occasion on which all the Ministerial offices are filled after the passing of this Act, but

b

may set the rate in respect of the whole of the year for which it is made.

6

In this section—

  • “the Ministerial offices” means—

    1. a

      the offices of First Minister and deputy First Minister, and

    2. b

      the Ministerial offices to be held by Northern Ireland Ministers (within the meaning of the Northern Ireland Act 1998);

  • “the Rates Order” means the Rates (Northern Ireland) Order 1977 (S.I. 1977/2157 (N.I. 28));

and any expression used in this section and in the Rates Order has the meaning given by that Order.