Northampton BC v Heard (VO)
Northampton BC v Heard (VO)
- 1994
- Rating & Valuation Reporter (1994) 34 RVR 105-108(4) .
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.
CONCERT HALL
CONTRACTORS METHOD
DECAPITALISATION RATE
ENTERTAINMENT CENTRE
LOCAL GOVERNMENT FINANCE ACT 1988 SCH 6
RATING APPEALS
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.
CONCERT HALL
CONTRACTORS METHOD
DECAPITALISATION RATE
ENTERTAINMENT CENTRE
LOCAL GOVERNMENT FINANCE ACT 1988 SCH 6
RATING APPEALS