A bill to reform the tax system in Wales has been passed by the Senedd.
The Local Government Finance (Wales) Bill, passed on July 16, introduces profound changes to the council tax and non-domestic rates systems.
It aims to update taxes more frequently and ensure they better reflect economic circumstances.
The new arrangements see changes in the values of non-domestic properties in Wales being updated every three years.
The bill offers greater flexibility in adjusting reliefs and exemptions, changes to payment calculations for different categories of ratepayers, improvement in information provided by ratepayers, and increased ability to tackle tax avoidance.
Regarding the council tax, the bill introduces a five-yearly cycle for property revaluations starting from April 2028, with the potential for amendment depending on circumstances.
There is also provision for greater flexibility in the organisation and labelling of tax bands to accommodate possible future system redesigns.
The bill ensures continuity of the national Council Tax Reduction Scheme that provides financial assistance to low-income households.
It also allows more flexibility in altering discounts and disregarding certain people from paying council tax.
Welsh Government cabinet secretary for finance, constitution and cabinet office, Rebecca Evans, said: "This is the first Welsh local government finance bill since devolution.
"It introduces important changes to the local tax system in Wales, reforming the system to make it more consistent, effective, and to give us flexibility in the future.
"Extensive research and experience of operating the current systems for more than two decades highlighted a range of limitations and the case for change was clear."
She added that, with the bill's approval, Wales would gain a taxation framework "for modern Wales" and "levers to adapt local taxation in the future as circumstances and priorities change."
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