Finance Act, 1994

SEVENTH SCHEDULE

Computation of Residential Property Tax

Section 116.

1. In this Schedule—

M is the market value exemption limit, and

G is the general exemption limit.

2. Subject to the provisions of paragraph 3, tax chargeable on the net market value shall be computed in accordance with the rates specified in column (2) of the following Table:

TABLE

Net Market Value

Rates

(1)

(2)

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1 per cent.

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1.5 per cent.

The remainder

2 per cent.

3. Where the net market value, when multiplied by /images/en.act.1994.0013.sched7.3.jpg does not exceed £25,000, tax chargeable on the net market value shall be computed in accordance with the following Table:

TABLE

Net Market Value

Tax Chargeable

(1)

(2)

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Acts Referred to

Aliens Act, 1935

1935, No. 14

Capital Acquisitions Tax Act, 1976

1976, No. 8

Capital Gains Tax Act, 1975

1975, No. 20

Capital Gains Tax (Amendment) Act, 1978

1978, No. 33

Companies Act, 1963

1963, No. 33

Companies Acts, 1963 to 1990

Companies (Amendment) Act, 1986

1986, No. 25

Corporation Tax Act, 1976

1976, No. 7

Courts of Justice Act, 1924

1924, No. 10

Courts of Justice Act, 1953

1953, No. 32

Courts (Supplemental Provisions) Act, 1961

1961, No. 39

Finance (1909-10) Act, 1910

10 Edw. 7, c.8

Finance Act, 1923

1923, No. 21

Finance Act, 1926

1926, No. 35

Finance Act, 1935

1935, No. 28

Finance Act, 1939

1939, No. 18

Finance Act, 1940

1940, No. 14

Finance Act, 1950

1950, No. 18

Finance Act, 1967

1967, No. 17

Finance Act, 1968

1968, No. 33

Finance Act, 1969

1969, No. 21

Finance Act, 1970

1970, No. 14

Finance Act, 1971

1971, No. 23

Finance Act, 1972

1972, No. 19

Finance Act, 1973

1973, No. 19

Finance Act, 1974

1974, No. 27

Finance Act, 1975

1975, No. 6

Finance Act, 1976

1976, No. 16

Finance Act, 1977

1977, No. 18

Finance Act, 1978

1978, No. 21

Finance Act, 1980

1980, No. 14

Finance Act, 1981

1981, No. 16

Finance Act, 1982

1982, No. 14

Finance Act, 1983

1983, No. 15

Finance Act, 1984

1984, No. 9

Finance Act, 1985

1985, No. 10

Finance Act, 1986

1986, No. 13

Finance Act, 1987

1987, No. 10

Finance Act, 1988

1988, No. 12

Finance Act, 1989

1989, No. 10

Finance Act, 1990

1990, No. 10

Finance Act, 1991

1991, No. 13

Finance Act, 1992

1992, No. 9

Finance (No. 2) Act, 1992

1992, No. 28

Finance Act, 1993

1993, No. 13

Finance (Excise Duties on Tobacco Products) Act, 1977

1977, No. 32

Finance (Excise Duties) (Vehicles) Act, 1952

1952, No. 24

Finance (Miscellaneous Provisions) Act, 1968

1968, No. 7

Gaming and Lotteries Act, 1956

1956, No. 2

Holidays (Employees) Act, 1973

1973, No. 25

Housing (Miscellaneous Provisions) Act, 1979

1979, No. 27

Income Tax Act, 1967

1967, No. 6

Industrial and Provident Societies Acts, 1893 to 1978

Insurance Act, 1989

1989, No. 3

Local Government (Planning and Development) Acts, 1963 to 1993

Maritime Jurisdiction Act, 1959

1959, No. 22

Maritime Jurisdiction (Amendment) Act, 1988

1988, No. 9

National Treasury Management Agency Act, 1990

1990, No. 18

Regional Technical Colleges Act, 1992

1992, No. 16

Registration of Title Act, 1964

1964, No. 16

Road Traffic Act, 1968

1968, No. 25

Social Welfare (Consolidation) Act, 1993

1993, No. 27

Stamp Act, 1891

54 & 55 Vict., c. 39

Urban Renewal Act, 1986

1986, No. 19

Value-Added Tax Act, 1972

1972, No. 22

Value-Added Tax (Amendment) Act, 1978

1978, No. 34

Vocational Education Act, 1930

1930, No. 29

Waiver of Certain Tax, Interest and Penalties Act, 1993

1993, No. 24

Income Tax (Employments) Regulations, 1960

( S.I. No. 28 of 1960 )

(Unemployment Benefit and Pay-Related Benefit) Order, 1994

( S.I. No. 19 of 1994 )

European Communities (Customs and Excise) Regulations, 1992 ,

( S.I. No. 394 of 1992 )

Imposition of Duties (No. 243) (Excise Duty on Tobacco Products) Order, 1979

( S.I. No. 296 of 1979 )

Imposition of Duties (No. 221) (Excise Duties) Order, 1975

( S.I. No. 307 of 1975 )

Imposition of Duties (No. 265) (Excise Duty on Hydrocarbon Oils) Order, 1983

( S.I. No. 126 of 1983 )

Land Registration Rules, 1972

( S.I. No. 230 of 1972 )