Rating valuation - Revision history

Designing Buildings at 08:34, 11 October 2020

2020-10-11T08:34:36Z

← Older revision		Revision as of 08:34, 11 October 2020
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	This article was created by --[[User:University_College_of_Estate_Management_(UCEM)\|University College of Estate Management (UCEM)]] 17:06, 6 December 2012 (UTC)		This article was created by --[[User:University_College_of_Estate_Management_(UCEM)\|University College of Estate Management (UCEM)]] 17:06, 6 December 2012 (UTC)

−	~~= Find out more =~~	+	= Related articles on Designing Buildings Wiki =
−		+
−	=== Related articles on Designing Buildings Wiki ===	+

	* Beneficial occupation.		* Beneficial occupation.
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	* What is a valuer?		* What is a valuer?

−	[[Category:~~Property_law~~]] [[Category:~~Standards_/_measurements~~]] [[Category:DCN_Standard]] [[Category:Taxation]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]	+	[[Category:DCN_Case_Law]] [[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:DCN_Standard]] [[Category:Property_law]] [[Category:Standards_/_measurements]] [[Category:Taxation]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Editor at 14:53, 4 May 2018

2018-05-04T14:53:41Z

← Older revision		Revision as of 14:53, 4 May 2018
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	* Choice of method for rating valuation.		* Choice of method for rating valuation.
	* Contractor’s basis for rating valuation.		* Contractor’s basis for rating valuation.
		+	* Existing use value.
	* Profits method of rating valuation.		* Profits method of rating valuation.
	* Rental method of rating valuation.		* Rental method of rating valuation.
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	* What is a valuer?		* What is a valuer?

−	[[Category:Property_law]] [[Category:Standards_/_measurements]] [[Category:Taxation]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]	+	[[Category:Property_law]] [[Category:Standards_/_measurements]] [[Category:DCN_Standard]] [[Category:Taxation]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Editor at 18:10, 6 March 2018

2018-03-06T18:10:51Z

← Older revision		Revision as of 18:10, 6 March 2018
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	* Rental method of rating valuation.		* Rental method of rating valuation.
	* Statutory formulae for rating valuation.		* Statutory formulae for rating valuation.
		+	* What is a valuer?

	[[Category:Property_law]] [[Category:Standards_/_measurements]] [[Category:Taxation]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]		[[Category:Property_law]] [[Category:Standards_/_measurements]] [[Category:Taxation]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]

Designing Buildings at 15:10, 25 May 2017

2017-05-25T15:10:41Z

← Older revision		Revision as of 15:10, 25 May 2017
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	= Purpose of a rating valuation =		= Purpose of a rating valuation =

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	Four main methods of valuation for rating purposes are recognised by the courts and tribunals:		Four main methods of valuation for rating purposes are recognised by the courts and tribunals:
−	*[[~~The%20rental%20method%20of%20rating%20valuation~~\|Rental method]] (using direct or indirect rental evidence).	+
−	*[[~~The%20contractor~~%E2%80%~~99s%20basis%20for%20rating%20valuation~~\|Contractor’s method or test]].	+	* [[The_rental_method_of_rating_valuation\|Rental method]] (using direct or indirect rental evidence).
−	*[[~~The%20profits%20method%20of%20rating%20valuation~~\|Profits or accounts method]].	+	* [[The_contractor%E2%80%99s_basis_for_rating_valuation\|Contractor’s method or test]].
−	*[[~~Statutory%20formulae%20for%20rating%20valuation~~\|Statutory formulae]].	+	* [[The_profits_method_of_rating_valuation\|Profits or accounts method]].
		+	* [[Statutory_formulae_for_rating_valuation\|Statutory formulae]].

	Follow the links for detailed descriptions of the four methods		Follow the links for detailed descriptions of the four methods
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	The choice of method is more limited than appears at first sight, because statute prescribes that certain hereditaments are to be valued by formula - mostly, although not exclusively, hereditaments which are in the central rating list. In those cases, once the formula has been laid down by Parliament, no other method may be used. However, formula rating is being phased out, and under the 2005 rating list there are relatively few hereditaments left that are valued by formula.		The choice of method is more limited than appears at first sight, because statute prescribes that certain hereditaments are to be valued by formula - mostly, although not exclusively, hereditaments which are in the central rating list. In those cases, once the formula has been laid down by Parliament, no other method may be used. However, formula rating is being phased out, and under the 2005 rating list there are relatively few hereditaments left that are valued by formula.

−	For other hereditaments one or more of the remaining three methods must be used: [[~~Rental%20method%20of%20rating%20valuation~~\|rental]], [[Contractor%E2%80%~~99s%20basis%20for%20rating%20valuation~~\|contractor’s]], [[~~Profits%20method%20of%20rating%20valuation~~\|profits/accounts]].	+	For other hereditaments one or more of the remaining three methods must be used: [[Rental_method_of_rating_valuation\|rental]], [[Contractor%E2%80%99s_basis_for_rating_valuation\|contractor’s]], [[Profits_method_of_rating_valuation\|profits/accounts]].

	Rating law requires the rental value of a hereditament to be found. Clearly, therefore the rental method is to be preferred over all other methods. However, this depends upon there being sufficient vital information to form a view.		Rating law requires the rental value of a hereditament to be found. Clearly, therefore the rental method is to be preferred over all other methods. However, this depends upon there being sufficient vital information to form a view.
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	For more information see: Choice of method for rating valuation.		For more information see: Choice of method for rating valuation.

−	----	+	-----
−		+	This article was created by --[[User:University_College_of_Estate_Management_(UCEM)\|University College of Estate Management (UCEM)]] 17:06, 6 December 2012 (UTC)
−	This article was created by --[[User~~%3AThe%20College%20of%20Estate%20Management~~\|~~The~~ College of Estate Management]] 17:06, 6 December 2012 (UTC)	+

	= Find out more =		= Find out more =

−	=== ~~'''~~Related articles on Designing Buildings Wiki~~'''~~ ===	+	=== Related articles on Designing Buildings Wiki ===
−	*Beneficial occupation.	+
−	*Case notes for rating valuation (Garton V Hunter).	+	* Beneficial occupation.
−	*Choice of method for rating valuation.	+	* Case notes for rating valuation (Garton V Hunter).
−	*Contractor’s basis for rating valuation.	+	* Choice of method for rating valuation.
−	*Profits method of rating valuation.	+	* Contractor’s basis for rating valuation.
−	*Rental method of rating valuation.	+	* Profits method of rating valuation.
−	*Statutory formulae for rating valuation.	+	* Rental method of rating valuation.
		+	* Statutory formulae for rating valuation.

−	[[Category:Property_law]]	+	[[Category:Property_law]] [[Category:Standards_/_measurements]] [[Category:Taxation]] [[Category:Cost_/_business_planning]] [[Category:Property_development]]
−	[[Category:Standards_/_measurements]]	+
−	[[Category:Taxation]]	+
−	[[Category:Cost_/_business_planning]]	+
−	[[Category:Property_development]]	+

Designing Buildings at 07:08, 30 July 2014

2014-07-30T07:08:56Z

← Older revision		Revision as of 07:08, 30 July 2014
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	*Statutory formulae for rating valuation.		*Statutory formulae for rating valuation.

−	~~[[Category:Other_legislation]]~~
	[[Category:Property_law]]		[[Category:Property_law]]
		+	[[Category:Standards_/_measurements]]
	[[Category:Taxation]]		[[Category:Taxation]]
	[[Category:Cost_/_business_planning]]		[[Category:Cost_/_business_planning]]
	[[Category:Property_development]]		[[Category:Property_development]]

Designing Buildings at 06:41, 21 July 2014

2014-07-21T06:41:08Z

← Older revision		Revision as of 06:41, 21 July 2014
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	[[Category:Taxation]]		[[Category:Taxation]]
	[[Category:Cost_/_business_planning]]		[[Category:Cost_/_business_planning]]
		+	[[Category:Property_development]]

Designing Buildings at 15:34, 21 November 2013

2013-11-21T15:34:48Z

← Older revision		Revision as of 15:34, 21 November 2013
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	=== '''Related articles on Designing Buildings Wiki''' ===		=== '''Related articles on Designing Buildings Wiki''' ===
−	*~~Rental method~~ of rating valuation.	+	*Beneficial occupation.
		+	*Case notes for rating valuation (Garton V Hunter).
		+	*Choice of method for rating valuation.
	*Contractor’s basis for rating valuation.		*Contractor’s basis for rating valuation.
	*Profits method of rating valuation.		*Profits method of rating valuation.
		+	*Rental method of rating valuation.
	*Statutory formulae for rating valuation.		*Statutory formulae for rating valuation.
−	*Choice of method for rating valuation.
−	*Case notes for rating valuation (Garton V Hunter).

	[[Category:Other_legislation]]		[[Category:Other_legislation]]

Designing Buildings at 11:59, 12 December 2012

2012-12-12T11:59:20Z

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	Where other rents or methods of valuation are used, tribunals and courts will weigh each one in order to decide how much reliance should be placed on them having regard to the particular circumstances of the case. It may be necessary to do more than one valuation, using different methods.		Where other rents or methods of valuation are used, tribunals and courts will weigh each one in order to decide how much reliance should be placed on them having regard to the particular circumstances of the case. It may be necessary to do more than one valuation, using different methods.

−	The choice is left with the valuer to decide which method or combination of methods is best in the circumstances. The courts will not take kindly to the presentation of numerous valuations by different methods - they feel that it is up to the valuer to choose the most suitable method in relation to precedent, ~~his~~ experience and ~~his~~ professional opinion. Nothing, however, should deter the valuer from exercising ~~his~~ judgement by comparing one method with others if he feels it will assist ~~him~~.	+	The choice is left with the valuer to decide which method or combination of methods is best in the circumstances. The courts will not take kindly to the presentation of numerous valuations by different methods - they feel that it is up to the valuer to choose the most suitable method in relation to precedent, their experience and professional opinion. Nothing, however, should deter the valuer from exercising their judgement by comparing one method with others if they feels it will assist them.

	Lord Denning MR in Garton v Hunter (VO) (1968) said: ‘Nowadays we do not confine ourselves to the best evidence. We admit all relevant evidence. The goodness or badness of it goes only to weight and not to admissibility.’		Lord Denning MR in Garton v Hunter (VO) (1968) said: ‘Nowadays we do not confine ourselves to the best evidence. We admit all relevant evidence. The goodness or badness of it goes only to weight and not to admissibility.’

Designing Buildings at 10:38, 7 December 2012

2012-12-07T10:38:32Z

← Older revision		Revision as of 10:38, 7 December 2012
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	[[Category:Other_legislation]]		[[Category:Other_legislation]]
	[[Category:Property_law]]		[[Category:Property_law]]
		+	[[Category:Taxation]]
	[[Category:Cost_/_business_planning]]		[[Category:Cost_/_business_planning]]

2.25.39.4 at 10:04, 7 December 2012

2012-12-07T10:04:40Z

← Older revision		Revision as of 10:04, 7 December 2012
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	The choice of method is more limited than appears at first sight, because statute prescribes that certain hereditaments are to be valued by formula - mostly, although not exclusively, hereditaments which are in the central rating list. In those cases, once the formula has been laid down by Parliament, no other method may be used. However, formula rating is being phased out, and under the 2005 rating list there are relatively few hereditaments left that are valued by formula.		The choice of method is more limited than appears at first sight, because statute prescribes that certain hereditaments are to be valued by formula - mostly, although not exclusively, hereditaments which are in the central rating list. In those cases, once the formula has been laid down by Parliament, no other method may be used. However, formula rating is being phased out, and under the 2005 rating list there are relatively few hereditaments left that are valued by formula.

−	For other hereditaments one or more of the remaining three methods must be used: rental, contractor’s, profits/accounts.	+	For other hereditaments one or more of the remaining three methods must be used: [[Rental%20method%20of%20rating%20valuation\|rental]], [[Contractor%E2%80%99s%20basis%20for%20rating%20valuation\|contractor’s]], [[Profits%20method%20of%20rating%20valuation\|profits/accounts]].

	Rating law requires the rental value of a hereditament to be found. Clearly, therefore the rental method is to be preferred over all other methods. However, this depends upon there being sufficient vital information to form a view.		Rating law requires the rental value of a hereditament to be found. Clearly, therefore the rental method is to be preferred over all other methods. However, this depends upon there being sufficient vital information to form a view.

−	It used to be thought that if direct rental evidence - that is, a rent on the hereditament itself - was available, no other method of valuation should be considered by the courts (Robinson Brothers (Brewers) Ltd v Durham County AC (1938). However, in later cases (notably Baker Britt v Hampsher (VO) (1976)) the courts have stressed the need to compare the rent actually passing on the premises with other rents on comparable hereditaments or, where there are no other rents, other methods of valuation (Garton v Hunter (VO) (1968)).	+	It used to be thought that if direct rental evidence - that is, a rent on the hereditament itself - was available, no other method of valuation should be considered by the courts (Robinson Brothers (Brewers) Ltd v Durham County AC (1938)). However, in later cases (notably Baker Britt v Hampsher (VO) (1976)) the courts have stressed the need to compare the rent actually passing on the premises with other rents on comparable hereditaments or, where there are no other rents, other methods of valuation (Garton v Hunter (VO) (1968)).

	Where other rents or methods of valuation are used, tribunals and courts will weigh each one in order to decide how much reliance should be placed on them having regard to the particular circumstances of the case. It may be necessary to do more than one valuation, using different methods.		Where other rents or methods of valuation are used, tribunals and courts will weigh each one in order to decide how much reliance should be placed on them having regard to the particular circumstances of the case. It may be necessary to do more than one valuation, using different methods.
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	Lord Denning MR in Garton v Hunter (VO) (1968) said: ‘Nowadays we do not confine ourselves to the best evidence. We admit all relevant evidence. The goodness or badness of it goes only to weight and not to admissibility.’		Lord Denning MR in Garton v Hunter (VO) (1968) said: ‘Nowadays we do not confine ourselves to the best evidence. We admit all relevant evidence. The goodness or badness of it goes only to weight and not to admissibility.’

−	Therefore, when analysing rental evidence for use in a rating valuation, consider all the possible evidence, making adjustments where necessary ~~(see discussion below),~~ rather than just discarding evidence because it is not a perfect fit with the rating hypothesis.	+	Therefore, when analysing rental evidence for use in a rating valuation, consider all the possible evidence, making adjustments where necessary rather than just discarding evidence because it is not a perfect fit with the rating hypothesis.

	For more information see: Choice of method for rating valuation.		For more information see: Choice of method for rating valuation.
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−	This article was created by --[[User~~:The College of Estate Management~~\|The College of Estate Management]] 17:06, 6 December 2012 (UTC)	+	This article was created by --[[User%3AThe%20College%20of%20Estate%20Management\|The College of Estate Management]] 17:06, 6 December 2012 (UTC)

	= Find out more =		= Find out more =