Valuation lists and the rates.—In every parish where a valuation list has been approved, and a copy delivered to the overseers, no poor rate, or other rate based thereon, is of any force unless the property included in the rate, except as other wise provided by statute, is rated according to its annual rateable value as it appears on the list. The overseers must, before the rate is allowed by the justices, make a declaration as to the accuracy of the particulars in the list. To compute the amount of contributions to the common fund by the several parties in the union, the guardians take the annual rateable value from the lists for the time being lastly approved.
In the Metropolis the machinery for rating differs from the foregoing so far as it is modified by the Metropolis (Valuation) Acts. An outline will now be set out.
Making the valuation lists.—A new list must be made quinquennially, com mencing from the 6th April 1871; it comes into force on the 6th April in the year succeeding that in which it is made, and lasts for five years, subject to any alterations that may be made by any supplemental or provisional list. And a supplemental list is made, if necessary, in each of the first four years of this period, the supplemental list being made in accordance with the same regula tions as a new list. In particular it should be noted that these lists are required to be made before the 1st June, and that the terms "gross value " and " rate able value " have each an important meaning in connection with metropolitan rating. " Gross value " means " the annual rent which a tenant might reason ably be expected, taking one year with another, to pay for an hereditament, if the tenant undertook to pay all usual tenant's rates and taxes, and tithe com mutation rentcharge, if any, and if the landlord undertook to bear the cost of the repairs and insurance, and the other expenses, if any, necessary to maintain the hereditament in a state to command that rent." And the term "rateable value " means " the gross value after deducting therefrom the probable annual average cost of the repairs, insurance, and other expenses as aforesaid." The deductions which can thus be made are limited, for by section 52 of the Act it is provided that in calculating the rateable value, the percentage or rate of deductions to be made from the gross value is not to exceed the amounts specified in the third schedule to the Act, so far as the same are applicable.
We now set out that schedule. (See p. 56.) The proceedings subsequent to the making of the list are not quite the same in the metropolis as they are elsewhere and have already been described. For one thing a duplicate of' the list, as deposited, must be sent by the overseers to the local surveyor of taxes, who checks the valuation, and then forwards the duplicate to the assessment committee. And when the overseers publish their notice of the deposit they must also state the times at which and the mode in which objections are to be made.
Objections and revision.—The assessment committee holds its meeting for hearing objections before the 1st October, and of this meeting not less than sixteen days' notice must be given. Objections may be made by any one who feels himself aggrieved—(a) by reason of the unfairness or incorrectness of the valuation of any hereditament ; or (b) by reason of the insertion or incorrect ness of any matter in the list ; or (c) by reason of the omission of any matter therefrom ; or (d) by reason of the list not having been transmitted by the overseers to the committee in accordance with the statutory requirements. Notice of objection by any person other than the surveyor of taxes and over seers must be given before the expiration of twenty-five days after the list is deposited ; and though it may relate to more than one hereditament, it must specify the correction which the objector desires to be made. After revision of the list it must be re-deposited, and a day appointed by the committee for hear ing objections to the alterations. The notice by the overseers of the re-deposit states the times at which and the mode in which objections are to be made ; but an objector must remember that lie must give seven days' notice of such objections. The list is to be finally approved by the committee before the 1st November, one duplicate being sent to the clerk of the London County Council and another to the overseers. On receiving their duplicate the overseers imme diately deposit it in the place where the rate books of the parish are kept, and publish notice of the deposit and of the time and mode of making appeals, and of the grounds on which an appeal is allowed to be made.