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PART VII
Miscellaneous
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Relief from rates.
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31.—(1) In every case in which a grant for the erection of a house is made under section 16 of the Act of 1948 to a person or public utility society and an increase in the rateable valuation of the tenement consisting of or including such house is made on an application for the revision of such valuation by reason solely or partly of such erection and the increase is shown for the first time in any revised valuation lists under the Valuation Acts published on or after the 1st day of March, 1959, the valuation of such tenement shall, in each of the nine successive local financial years the first of which is that in which the tenement is first rated on the increased valuation, be deemed to be reduced for rating purposes by the proportion of such increase specified in the second column of the Table to this section opposite the number of the year in the first column of the Table.
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(2) In this section “rating purposes” means the following (and no other) purposes, that is to say, the purpose of the assessment and levying of any rate raised by a local authority for the service of the local financial year in which the tenement referred to in subsection (1) of this section is first rated on the increased valuation referred to in the said subsection or for the service of any of the next following eight local financial years.
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(3) Without prejudice to the generality of the provisions of the immediately preceding subsection of this section restricting the meaning of “rating purposes”, it is hereby enacted in particular that notwithstanding the rateable valuation (in this subsection referred to as the full valuation) of a tenement being deemed under this section to be reduced in relation to any local financial year, every computation for the purposes of the Income Tax Acts of the annual value of such tenement shall be made in like manner as if the full valuation were in force for the purposes of county rate in relation to that year.
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(4) Section 44 of the Act of 1948 shall not apply in any case in which this section applies.
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TABLE
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Proportion Of Increase In Valuation To Be Reduced
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Number of year after increase in valuation
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Proportion of increase in valuation to be reduced
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First
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Nine-tenths
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Second
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Eight-tenths
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Third
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Seven-tenths
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Fourth
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Six-tenths
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Fifth
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Five-tenths
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Sixth
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Four-tenths
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Seventh
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Three-tenths
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Eighth
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Two-tenths
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Ninth
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One-tenth
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