Synopses & Reviews
Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: APPENDIX I. LAND VALUES ASSESSMENT AND RATING. To provide for the separate Assessment and Rating of Land Values. Presented by Dr. Macnamara. Supported by Mr. John Burns, Mr. Dillon, Mr. Charles Douglas, Mr. Emmott, Mr. Fenwick, Mr. Lloyd-George, Mr. Robson, Mr. Trevelyan, and Mr. J. H. Whitley. Ordered, by The House of Commons, to be Printed, 20 February 1903. MEMORANDUM. This Bill is framed with the object of providing local authorities in urban areas with a new source of revenue in relief of the present rates, and so diminishing the existing burdens on building enterprise. With this object the Bill directs urban land values to be separately assessed and gives to local authorities power, which they may exercise if they think fit, to levy a land value rate throughout their areas. The rate is to be levied on the capital value of all land, whether occupied or not, as distinct from the value of any buildings or structures on the land. The rate is to be payable generally by the persons at present liable to pay rates, but special provision is made for the case of buildings containing several parts separately occupied, and also for the case of unoccupied property. With regard to tenancies created after the commencement of the Act, it is provided that a tenant who pays land value rate maydeduct from his rent the amount of the land value rate calculated on the land value as it was when that rent was fixed. No such deduction is permitted under existing tenancies. The total amount of the new rate in any year is limited to one penny in the pound on the land value. Provide for the separate Assessment and Rating of Land Values. Be it enacted by the King's most Excellent Majesty, bv and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this pr...
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