(1)If a Table of Rates is prepared, it shall specify -(a)the class or several classes of land for which, having regard to the nature of the soil, situation, means of irrigation, and other like considerations, it is in the opinion of the Revenue Officer necessary or practicable to fix a rate or different rates of rent; and(b)the rate or rates of rent fairly and equitably payable by tenants holding land Of each such class where rent is liable to alteration.