'No upper limit' on rates bills

David Hanson says there will be no upper limit on NI rates bills

Finance Minister David Hanson has announced there will be no upper limit on the amount people will have to pay on their rates in Northern Ireland.

The government is currently sending out leaflets to householders advising of the new charges.

"The capital value is based on the value of the house as set in January 2005," Mr Hanson said.

"So someone with a £200,000 house or a £100,000 or a £400,000 house will pay according to the value of the house."

The change in how rates are calculated in Northern Ireland will be brought in from April 2007.

The government has said the new system will be fairer than the previous one and that about 60% of people will see no change in their bills.

The Valuation and Lands Agency is carrying out a valuation of the 704,000 domestic properties in the province.