Summary
3.The Act removes the current requirements in the Local Government Finance Act 1992 (“the 1992 Act”) for there to be a revaluation of domestic properties, in England, for council tax purposes on 1 April 2007 and then at intervals of not more than 10 years. These requirements are replaced with a power for the Secretary of State to set the date of the first revaluation and of further revaluations. The Secretary of State will specify by order, for England, the year in which each new valuation list must be compiled (that is to say, the year in which a revaluation must take place). The new list will always be required to be compiled on the 1 April in the specified year. The orders will be subject to the affirmative resolution procedure in the House of Commons.