Amendment status not verified — confirm the current text below against the official source.
(1) The annual value of a holding comprising land or building Periodic which has been determined before and is in force on the date of the assessment. commencemet of this Act, shall remain in force until a fresh valuation list is enforced under this Act. (2) The Mayor-in-Council shall cause a general valuation of all holdings in accordance with the provisions of this Chapter as soon as possible after the constitution of a new Corporation and at periodic intervals so as to ensure that there is a revision of annual valuation of all municipal holdings at the termination of succesive period of six years. West Ben. Act LVII of 1978.