Scottish Exhibition Centre Ltd v Strathclyde RA
Scottish Exhibition Centre Ltd v Strathclyde RA
- 1992
- Rating Appeals 1992 RA 113-146(18) .
LT for Scotland 28 February 1992. The assessor had entered the exhibition centre in the valuation roll for 1990-1991 as £1,275,000 net annual value, that value having been arrived at by the contractors principle. The ratepayers said that since actual records of income and expenditure over a number of years are now available, it was appropriate to apply the revenue principle. It was held that the revenue principle was not an appropriate method of valuation because it was not used to value similar buildings and that principle was only used when the trade on the premises was such a part of the occupation that it could not be carried out elsewhere and this did not apply.
CONFERENCE CENTRE
CONTRACTORS METHOD
EXHIBITION CENTRE
REVENUE METHOD
Valuation
LT for Scotland 28 February 1992. The assessor had entered the exhibition centre in the valuation roll for 1990-1991 as £1,275,000 net annual value, that value having been arrived at by the contractors principle. The ratepayers said that since actual records of income and expenditure over a number of years are now available, it was appropriate to apply the revenue principle. It was held that the revenue principle was not an appropriate method of valuation because it was not used to value similar buildings and that principle was only used when the trade on the premises was such a part of the occupation that it could not be carried out elsewhere and this did not apply.
CONFERENCE CENTRE
CONTRACTORS METHOD
EXHIBITION CENTRE
REVENUE METHOD
Valuation