This Act makes provision for the valuation of real property for purposes of levying of rates by a local authority pursuant to any law. The 45 sections are divided into 5 Parts: Preliminary (I); Valuation (II); Valuation Procedure; Objections and Proposals (III); Appeals (IV); Miscellaneous and Transitional (V). The First Schedule contains rules for the determination of annual rental value and the Second Schedule rules for the determination of capital value.
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The FAO Legal Office provides in-house counsel in accordance with the Basic Texts of the Organization, gives legal advisory services to FAO members, assists in the formulation of