Railways (Valuation For Rating) Act, 1931
|
Determination of minimum valuation of a railway hereditament and minimum value of a railway undertaking as a whole. |
7.—(1) At every quinquennial revision the Commissioner shall make in respect of every railway undertaking a valuation of every railway hereditament in Saorstát Eireann forming part of such undertaking in accordance with the following provisions, that is to say:— | |
(a) in the case of a running line hereditament, the valuation shall be the valuation placed thereon or which would, if it had not been adapted for use as a railway, have been placed thereon at the tenement valuation under the provisions of the Valuation (Ireland) Act, 1852 , or any subsequent valuation; and | ||
(b) in the case of a non-running line hereditament, the valuation shall be thirty-three and one-third per cent. of the net annual value estimated in accordance with Section 11 of the Valuation (Ireland) Act, 1852 , which would have been placed thereon if valued at the 3rd day of August, 1914, regard being had to the effective user and other conditions obtaining at such quinquennial valuation; | ||
and the valuation so made of such running line hereditament shall be the minimum valuation of such running line hereditament for the purposes of such quinquennial revision, and the valuation so made of such non-running line hereditament shall be the minimum valuation of such non-running line hereditament for the purposes of such quinquennial revision. | ||
(2) The sum of the minimum valuations of every railway hereditament in Saorstát Eireann forming part of a railway undertaking as made at a quinquennial revision shall be the minimum value of such undertaking as a whole for the purpose of such quinquennial revision. |