Rating Valuation : Principles and practice

Front Cover\r......Page 1
Rating Valuation......Page 4
Copyright......Page 5
Contents......Page 6
Preface......Page 12
Acknowledgements......Page 14
About the Authors......Page 16
Table of Cases......Page 18
Table of Statutes and Statutory Instruments......Page 28
1.1 Introduction to rating......Page 36
1.2 Historical......Page 37
1.3 Other approaches to local property taxation......Page 39
1.4 Rateable properties......Page 40
1.7 Collection......Page 41
1.8 Transitional arrangements......Page 43
1.9 Wales......Page 44
1.10 Scotland and Northern Ireland......Page 45
1.11 Illustrative rateable values......Page 46
2.1 Introduction......Page 48
2.2 Actual occupation......Page 50
2.3 Exclusive or paramount occupation......Page 54
2.4 Beneficial occupation......Page 58
2.5 Transience......Page 60
2.6 Rateable chattels......Page 62
2.8 Wales......Page 63
3.1 Introduction......Page 64
3.2 Within one or more billing authorities\' area......Page 65
3.4 Capable of separate occupation......Page 66
3.5 A single geographical unit......Page 67
3.6 Single purpose......Page 72
3.8 When does an hereditament come into existence?......Page 74
3.9 Relevant non-domestic hereditaments......Page 75
3.11 Wales......Page 76
4.2 Definition of domestic property......Page 78
4.4 Holiday cottages and other self-catering accommodation......Page 82
4.5 Composite hereditaments......Page 83
4.6 Valuation of composites......Page 84
4.7 De minimis uses......Page 86
4.8 Short stay accommodation and the `six person rule\'......Page 88
4.10 Wales......Page 90
5.2 Exemptions......Page 92
5.3 Reliefs......Page 104
5.4 Wales......Page 106
6.1 Rateable value......Page 110
6.2 Interpreting the definition of rateable value......Page 111
6.3 Additional rules......Page 124
6.4 Summary - the hypothetical tenancy......Page 133
6.5 Date of valuation......Page 134
6.6 Temporary reductions in assessments......Page 142
6.7 Wales......Page 145
7.1 Introduction......Page 146
7.2 Rental selection......Page 147
7.3 Weight to be attached to rental evidence......Page 150
7.5 Adjustment of rents......Page 153
7.6 Incentives......Page 162
7.7 Reverse premiums......Page 167
7.8 Surrender and renewal......Page 168
7.11 Rental analysis......Page 170
7.12 Wales......Page 183
8.2 Historical development......Page 184
8.3 The five stages......Page 185
8.4 Problems with the contractor\'s basis......Page 187
8.5 Rejection of the method......Page 188
8.6 The five stages in detail......Page 189
8.7 Illustrative valuation......Page 209
8.9 Wales......Page 211
9.2 Historical development......Page 212
9.3 Overview of the approach......Page 213
9.4 Rejection of the method......Page 214
9.5 Use of accounts as a check for other approaches......Page 215
9.6 The approach in detail......Page 216
9.7 Gross receipts......Page 219
9.8 Expenditure......Page 223
9.9 Tenant\'s share......Page 227
9.10 Local authority overbid......Page 232
9.11 Loss-making properties......Page 234
9.12 Valuation by taking a percentage of gross receipts......Page 235
9.13 Illustrative valuation......Page 237
9.14 Wales......Page 239
10.2 Zoning......Page 240
10.3 Numbers of zones and zone depths......Page 242
10.5 Quantity allowances......Page 243
10.6 Allowances for shape......Page 245
10.7 Natural zoning......Page 248
10.8 Turnover rents......Page 250
10.9 Superstores and hypermarkets......Page 251
10.10 Retail warehouses......Page 253
10.11 Department stores......Page 254
10.12 Kiosks......Page 255
11.3 Survey requirements......Page 258
11.5 Valuation approach......Page 259
11.7 Illustrative valuation......Page 260
11.8 Factors affecting value......Page 261
12.1 Introduction......Page 262
12.2 Survey and basis of measurement......Page 264
12.3 Basis of valuation......Page 266
12.4 Factors affecting valuation......Page 267
12.5 Example......Page 270
13.2 Historical development......Page 274
13.3 Rateability......Page 275
13.4 Microgeneration......Page 279
13.5 Valuation of plant and machinery......Page 280
13.6 Wales......Page 291
14.1 Advertising rights and stations......Page 292
14.2 Amusement parks, theme parks......Page 293
14.3 Bingo halls and clubs......Page 294
14.5 Caravan sites......Page 295
14.6 Car parks......Page 298
14.7 Cinemas......Page 300
14.8 Clubs and halls......Page 302
14.9 Education establishments......Page 304
14.10 Golf courses......Page 310
14.11 Hotels......Page 314
14.12 Leisure centres......Page 315
14.13 Marinas......Page 316
14.14 Mineral hereditaments......Page 318
14.15 Petrol filling stations......Page 322
14.16 Public houses......Page 325
14.17 Riding schools and livery stables......Page 327
14.19 Sports grounds......Page 330
14.20 Swimming pools......Page 331
14.21 Telecommunication masts......Page 332
14.22 Theatres......Page 334
14.23 Village halls, community halls......Page 335
15.1 Introduction - revaluation and rating lists......Page 338
15.2 Contents of local rating lists......Page 339
15.4 Regulations......Page 340
15.6 Proposals......Page 341
15.7 Who can make proposals?......Page 343
15.8 Contents of a proposal......Page 344
15.10 Invalid proposals......Page 346
15.11 Procedure subsequent to the making of proposals......Page 347
15.12 Effective dates......Page 349
15.13 Appeals......Page 352
15.14 Wales......Page 358
16.2 The annual rates bill......Page 360
16.4 Service of notices......Page 361
16.5 Methods of payment......Page 362
16.6 Enforcement......Page 363
16.7 Distress......Page 365
16.9 Rate liability......Page 366
16.10 Transitional arrangements......Page 368
16.11 Example 1 - increase in liability......Page 373
16.12 Example 2 - decrease in liability......Page 374
16.13 Wales......Page 375
17.2 Who is liable?......Page 376
17.4 Completion notices......Page 383
17.5 Wales......Page 387
18.2 The basic concept......Page 388
18.3 Liability......Page 389
18.4 Discounts......Page 390
18.5 Valuation lists......Page 391
18.7 The dwelling......Page 392
18.8 Basis of valuation......Page 393
18.9 Altering bands......Page 395
18.10 Valuation date......Page 396
18.11 Disaggregation - treatment of self-contained units......Page 398
18.12 Aggregation......Page 400
18.13 Appeals......Page 401
18.14 Effective dates......Page 404
18.16 Wales......Page 405
Appendix 1- Rent Return\r......Page 408
Appendix 2......Page 417
Index......Page 420