|
|
Amendment of section 98 (market value of property) of Act of 1983.
|
117.—Section 98 of the Act of 1983 is hereby amended by the insertion of the following subsection after subsection (2):
|
|
| |
“(2A) (a) Notwithstanding the provisions of subsections (1) and (2), in estimating the market value of any property on the relevant valuation date, a reduction may be made in respect of such value which is attributable on that date to qualifying improvements.
|
|
| |
(b) ‘Qualifying improvements’ for the purposes of this subsection, means necessary improvements or alterations to the property for the purposes only of accommodating or facilitating a person who is permanently incapacitated by reason of mental or physical infirmity from maintaining himself.
|
|
| |
(c)A reduction shall not be available by virtue of this subsection unless the incapacitated person concerned normally resided at the property in the year ended on the relevant valuation date.”.
|
