Distillers Company (Bottling Services) Ltd v Fife Assessor
Distillers Company (Bottling Services) Ltd v Fife Assessor
- 1987
- Rating Appeals 1987 RA 209-255(24) .
LT for Scotland 26 August 1987. A complex of buildings used for blending and bottling Scotch whisky , erected between 1971 and 1975 with a total floorspace of 237,000 sm were entered in the valuation roll of 1985-86 at 3,409,000 nav. The ratepayers (D) sought a reduction to 2,138,000 nav. It was agreed that the appropriate valuation method was the contractors principle . The ratepayers claimed the replacement value to be 35,523,392 based on comparables and previously agreed replacement costs adjusted for inflation using the Tender Price Index . However the assessors used Spon`s Index giving a replacement cost of 41,900,129. The court held that the assessment must be reduced to the lower level on the basis that the Tender Price Index was preferred for updating or backdating building costs to calculate costs at valuation date for the purposes of a contractors principle valuation.
INDUSTRIAL BUILDINGS
RATING APPEAL
LT for Scotland 26 August 1987. A complex of buildings used for blending and bottling Scotch whisky , erected between 1971 and 1975 with a total floorspace of 237,000 sm were entered in the valuation roll of 1985-86 at 3,409,000 nav. The ratepayers (D) sought a reduction to 2,138,000 nav. It was agreed that the appropriate valuation method was the contractors principle . The ratepayers claimed the replacement value to be 35,523,392 based on comparables and previously agreed replacement costs adjusted for inflation using the Tender Price Index . However the assessors used Spon`s Index giving a replacement cost of 41,900,129. The court held that the assessment must be reduced to the lower level on the basis that the Tender Price Index was preferred for updating or backdating building costs to calculate costs at valuation date for the purposes of a contractors principle valuation.
INDUSTRIAL BUILDINGS
RATING APPEAL