Northampton BC v Heard (VO)
Language: English Series: Rating & Valuation Reporter ; (1994) 34 RVR 105-108(4)Publication details: 1994Subject(s): Summary: LVT 5 April 1994. The premises were described in the valuation list as an `entertainment centre and premises`. It was used as a theatre/concert hall. Dispute arose as to the method of valuation to arrive at the rateable value under Local Government Finance Act 1988 sch 6. The VO used the contractors` method, applying the statutory 6% decapitalisation rate to get a replacement cost of £9,066,604 and rv of £543,966. The ratepayer contended that the valuation should be 5% of the assumed turnover of £1,400,000 ie £70,000. The tribunal held in favour of the ratepayer.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Law report | London Journal article | ABS51316 (Browse shelf(Opens below)) | 1 | Available | 21605-1001 |
LVT 5 April 1994. The premises were described in the valuation list as an `entertainment centre and premises`. It was used as a theatre/concert hall. Dispute arose as to the method of valuation to arrive at the rateable value under Local Government Finance Act 1988 sch 6. The VO used the contractors` method, applying the statutory 6% decapitalisation rate to get a replacement cost of £9,066,604 and rv of £543,966. The ratepayer contended that the valuation should be 5% of the assumed turnover of £1,400,000 ie £70,000. The tribunal held in favour of the ratepayer.