(1) In this Act the date by reference to which the chargeable value of a relevant residential property is to be established is referred to as the valuation date.

(1A) In this Act, a period of years referred to in paragraph (a), (b) or (c) of subsection (2) is referred to as a valuation period.

(2) The valuation date in relation to a relevant residential property shall be -

(a) 1 May 2013 for the years 2013 to 2021,

(b) 1 November 2021 for the years 2022 to 2025, and

(c) for each consecutive 4-year period after the year 2025, 1 November in the year preceding the first year of the particular 4-year period.

(3) The Minister may, by order, alter the valuation date referred to in subsection (2).