Section 124(1) in The City of Nagpur Corporation Act, 1948
(1)The valuation of any land or building situated in one or more of the several wards, the respective numbers, names and boundaries of which may be specified by the State Government by notification, which has been made before the commencement of this Act and is in force at the commencement of this Act, shall remain in force and shall be deemed to be the valuation for the assessment of the [property taxes] [These words were substituted for the words 'property tax' by Maharashtra 13 of 1992, Section 20.] on such land or building under this Act until such time as the [Commissioner] [These words were substituted for the words 'Chief Executive Officer' by Bombay 79 of 1958, Section 3, Schedule.] makes a fresh valuation under this Act of the lands and buildings in each such ward, and the annual value of such lands and buildings in each such ward shall, after such assessment has been made by the [Commissioner] [These words were substituted for the words 'Chief Executive Officer' by Bombay 79 of 1958, Section 3, Schedule.] remain unchanged for a period of one year and may be revised thereafter by the [Commissioner] [These words were substituted for the words 'Chief Executive Officer' by Maharashtra 79 of 1958, Section 3, Schedule.] at the termination of successive periods of one year.
