Housing Amendment Act, 1948

Relief from rates.

44.—(1) In every case in which a grant for the erection of a house is made under section 16 of this Act to a person or public utility society and an increase in the valuation of the tenement, consisting of or including such house, is made on an application for the revision of such valuation by reason solely of such erection, the valuation of such tenement shall be deemed to be reduced for rating purposes by two-thirds of such increase.

(2) In every case in which a grant for the erection of a house is made under section 16 of this Act to a person or public utility society and an increase in the valuation of the tenement consisting of or including such house is made on an application for the revision of such valuation by reason partly of such erection the valuation of such tenement shall be deemed to be reduced for rating purposes by two-thirds of so much of such increase as is attributable to such erection.

(3) Where a grant is made under section 16 of this Act in respect of the reconstruction of a house, the valuation of the tenement consisting of or including such house shall not, on any valuation or revision of the valuation thereof coming into force within seven years after the completion of such reconstruction be increased on account of any increase in the value of such tenement arising from such reconstruction.

(4) In this section the expression “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 commencing next after the completion of the erection of the relevant house or for the service of any of the next following six local financial years.

(5) Without prejudice to the generality of the provisions of the immediately preceding subsection of this section restricting the meaning of the expression “rating purposes”, it is hereby enacted in particular that notwithstanding the 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 local financial year.