§ 58. Major MOULTONasked the Chancellor of the Exchequer whether, in the event of the Rent Restrictions Bill becoming law, a revaluation of house property effected for the purposes of rating and taxation will be made; and whether such valuation, if made, will be given retrospective effect?
§ Mr. SNOWDENThis is a hypothetical question, but I will circulate in the OFFICIAL REPORT a statement explaining the present provisions in regard to the matter.
§ Sir K. WOODIs the right hon. Gentleman taking any interest in this subject? Is he aware that the Minister of Health has run away from it?
§ Mr. W. THORNEIs my right hon. Friend aware that the hon. Member made a speech lasting three-quarters of an hour this morning on one Amendment, and he was ruled out of order?
§ Following is the statement:
§ There is no provision in the existing law under which, in the circumstances mentioned, a general revaluation of house property could be required to be made for the purposes of rating and taxation. Generally, the revision of rating valuations is a matter for the local authorities, but outside London any ratepayer who is aggrieved by the valuation list in force may, under Section 1 of the Union Assessment Committee Amendment Act, 1864, give the assessment committee, at any time, notice of his objection to the list, and as regards Imperial taxation, there is a general statutory right to a reduction of an assessment in force for any year where it is shown that the annual value of the property for that year is less than the value adopted for the purposes of assessment.