Provisions as to rating

(1) The valuations contained in a valuation roll shall be the basis of all rates determined by the local authority and every such valuation, subject to amendment as provided by section 13 of this Act, shall remain in force until a fresh valuation is made. (2) Every local authority shall cause such rate to be transcribed in a book to be known as the “Rate Book” and it shall contain a list of all the properties in the town, their situation, their value or annual value (as the case may be), the amount of rate payable, the names of the parties assessed and such other matters as may be required to conform with any regulations relating to the keeping of accounts by local authorities. (3) Where an alteration is made in a valuation roll which affects the amount of any rate levied in respect of any property on the roll, the difference, if too much has been paid, shall be 18 repaid or allowed or, if too little has been paid, shall be paid and may be recovered as if it were arrears of the rate. year.