“Minister” is defined as the Minister for Housing, Local Government and Heritage. Where passing such a resolution is a reserved function under the Local Government Act 2001 (as amended), a local authority may resolve that the basic rate of local property tax (for relevant residential properties in its functional area) shall, for a specified period and with effect from the date specified in section 21(2) of the Finance (Local Property Tax) (Amendment) Act 2013, be varied upwards or downwards by a specified percentage; where so resolved the amount and rate of local property tax for those properties shall be the basic rate increased or decreased by the local adjustment factor and the authority must notify the Minister in writing of the resolution and the factor.

The local adjustment factor may not increase the basic rate by more than 25% or decrease it by more than 15%. In deciding whether to pass such a resolution or the percentage to specify, a local authority shall have regard to its estimated income and expenditure for the period, its financial position including accumulated assets and liabilities not less than one month before the proposed resolution, and the estimated financial effect of the varied rate on the local economy and on those liable to pay local property tax. The Minister may make regulations governing the setting of the factor, including matters to be regarded, required public consultation (including newspaper publication), consultation with other persons, notification requirements and other procedural matters.