Anyone know what this tap is for?

[blackcloud]

Anyone know what this tap is for? (Os it even called a tap?) It's behind toilet.
Also to the right you will also see a hatch and behind it is a pipe with a tap on that turns off the water supply to us and the neighbour next door.

Hoping there is a way to turn off the water to just our home and no one else. Sure the old home owner said that there was a way to turn off the water to only our house and not the neighbours.

Thanks all

 

[denso13]

Anyone know what this tap is for?

Turn it off and see what happens?

 

[opps]

One would hope that it tees off the stopcock for the two properties.

As @denso13 said, turn it off and check to see if you have no water but your neighbour does.