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Article
Publication date: 29 March 2019

Paul Michael Greenhalgh, Lynn Johnson and Victoria Huntley

Many national retailers have complained about increases in business rates tax bills since the 2017 revaluation. What impact has the 2017 business rates revaluation had on…

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2899

Abstract

Purpose

Many national retailers have complained about increases in business rates tax bills since the 2017 revaluation. What impact has the 2017 business rates revaluation had on independent high street retailers in market towns in the north of England? The paper aims to discuss these issues.

Design/methodology/approach

The study uses Valuation Office Agency rating list data to determine rateable value and business rates payable for independent high street retailers in eight northern market towns either side of the 2017 rating revaluation. The data were analysed using business rates matrices to reveal the impact of the new rating list on independent retailers in the eight locations.

Findings

Analysis reveals that the majority of independent retailers in the northern market towns sampled have experienced reductions in both the rateable value of their premises and business rates payable. Increase in the rates relief threshold has extended relief to almost half of the independent retailers in the study, most of whom receive 100 per cent relief.

Practical implications

Charity shops receive at least 80 per cent rates relief which means they are able to afford to pay higher rents. This “sets the tone” for landlords setting market rents in that location which are then used as comparable evidence by the VOA when determining rateable values at revaluation further polarising the gap between rate payers and those to are exempt.

Originality/value

Focussing on independent retailers on high streets in markets towns in north of England, this study provides an alternative perspective to the orthodox view of business rates revaluations having a negative impact on retailers.

Details

Journal of Property Investment & Finance, vol. 37 no. 3
Type: Research Article
ISSN: 1463-578X

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Article
Publication date: 1 March 1989

I. Gatenby

Examines the new system for rate valuation and procedure forchallenging rateable values, including a resume of aspects that remainunchanged. Considers the particular…

Abstract

Examines the new system for rate valuation and procedure for challenging rateable values, including a resume of aspects that remain unchanged. Considers the particular differences of practical concern to be: the rateable values themselves, the phasing in of changes, the procedure for challenging ratings, and the borderline cases between domestic and non‐domestic property. Surmises that practical action should involve obtaining procedural information before the new system takes effect, to avoid the rush on surveyor′s services.

Details

Property Management, vol. 7 no. 3
Type: Research Article
ISSN: 0263-7472

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Article
Publication date: 1 March 1989

Roger Emeny

Provides a summary of developments in rating law and valuationduring 1989‐90, with particular emphasis on the 1990 revaluation.

Abstract

Provides a summary of developments in rating law and valuation during 1989‐90, with particular emphasis on the 1990 revaluation.

Details

Journal of Valuation, vol. 7 no. 3
Type: Research Article
ISSN: 0263-7480

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Article
Publication date: 1 March 1995

Elaine Hargreaves

The current business rate system came into force in 1990,introducing a non‐domestic rating multiplier across England and Walesand committing the Government to five‐yearly…

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407

Abstract

The current business rate system came into force in 1990, introducing a non‐domestic rating multiplier across England and Wales and committing the Government to five‐yearly revaluations. Rateable values are based on rental levels and, at the 1990 revaluation, office occupiers in London and the South East recorded huge increases in their rate liabilities, while occupiers in the North had their rate bills decreased quite significantly. In the five years since the last revaluation there has been a downturn in both the UK economy and in the property market. Calculates an estimate for the multiplier, examines how rental values have changed between the revaluation dates and what impact this has on the geographical distribution of rate liabilities and the shifting burden between the sectors.

Details

Property Management, vol. 13 no. 1
Type: Research Article
ISSN: 0263-7472

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Article
Publication date: 1 March 1990

Ian Gatenby and Carol Hooper

Discusses the implications of the Local Government Finance Act 1988as amended by the Local Government and Housing Act 1989. Explains therules regarding occupation, empty…

Abstract

Discusses the implications of the Local Government Finance Act 1988 as amended by the Local Government and Housing Act 1989. Explains the rules regarding occupation, empty property, valuation, challenging a rating, phasing of rates increases/reductions, composite hereditaments and community charge. Comments on new problem areas. Observes that the new rating system has made a complicated subject even more complicated. Concludes that the property manager has the opportunity to use the new system to best advantage.

Details

Property Management, vol. 8 no. 3
Type: Research Article
ISSN: 0263-7472

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Article
Publication date: 14 August 2007

David Tretton

The paper's purpose is to review the growth of computer supported valuation models and the increased access via information technology to property data in the world of…

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2709

Abstract

Purpose

The paper's purpose is to review the growth of computer supported valuation models and the increased access via information technology to property data in the world of property taxation. The paper aims to stimulate debate on what the short/medium term future may hold. Is there room for both traditional valuation surveying skills and computer mass appraisal models in the enlightened property taxation world, where transparency and access to property data is expected?

Design/methodology/approach

The paper compares and contrasts developments and trends in the use of automated valuation models (AVMs) across the world to assess property for local taxation purposes. It focuses in detail on three automated property taxation valuation systems of which the author has working knowledge and experience: Valuation Office Agency – Council Tax (Dwellings) and Non Domestic Rating (Commercial); Northern Ireland Valuation and Lands Agency – Domestic (Dwellings); Hong Kong Rating and Valuation Department (Dwellings and Commercial) property. The paper also considers the progress made in access to property data and data storage/retrieval.

Findings

Automated valuation programmes assist in the production of a valuation but its quality and accuracy are data and valuer led. One size does not fit all and there is no automated replacement for the subjective professional judgement of the valuer.

Originality/value

This paper considers the challenges, opportunities and possible problems when using computer driven valuation models for property taxation purposes.

Details

Journal of Property Investment & Finance, vol. 25 no. 5
Type: Research Article
ISSN: 1463-578X

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Article
Publication date: 1 March 1991

J.E. Adams

Examines various methods of allocating service chargecontributions. Discusses the advantages and disadvantages of allocationsby floor areas, rateable values, degree of…

Abstract

Examines various methods of allocating service charge contributions. Discusses the advantages and disadvantages of allocations by floor areas, rateable values, degree of use, stated shares, as well as adjustment and the court′s residual powers. Concludes that closer liaison between property managers, agents and solicitors can avoid problems at the lease making stage, although no one formula invariably provides the best result for landlord or tenant.

Details

Property Management, vol. 9 no. 3
Type: Research Article
ISSN: 0263-7472

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Article
Publication date: 24 February 2012

Bonnie Y.M. Lam and K.W. Chau

The purpose of this paper is to identify and analyse the crucial variables of pedestrian flow value of the shopping centres in Hong Kong.

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907

Abstract

Purpose

The purpose of this paper is to identify and analyse the crucial variables of pedestrian flow value of the shopping centres in Hong Kong.

Design/methodology/approach

The study identifies the key determinants of pedestrian flow value (PFV) which is measured by net rental income per floor area per pedestrian flow. Based on the rental and pedestrian flow survey data of 146 shopping centres along the subway (Mass Transit Railway) stations in Hong Kong, the authors have estimated the marginal effects of these determinants on the PFV. The research explains different variations' impacts of pedestrian flow on the rental value of the shopping centres in Hong Kong.

Findings

It is found that shopping centres owned by the same owners tend to achieve a lower PFV, which suggests that owners of multiple shopping malls may adopt a uniform pedestrian flow management strategy that may not be ideal for each individual mall.

Research limitations/implications

This study focuses on the shopping centres that are located along the railway stations. Researchers are encouraged to test the shopping centres that are less affected by the railway stations.

Practical implications

It is useful for shopping centre owners and operators to determine the optimal strategy for managing pedestrian flow in their shopping centres.

Originality/value

The relationship between pedestrian flow and the shopping centre value is coined in the research as pedestrian flow value (PFV) which is to calculate the pedestrian flow effectiveness measured by net rental income per floor area per pedestrian flow.

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Article
Publication date: 1 April 1985

P.J. Welham

The article looks at the different distributional patterns of two alternative ways of reforming relief for owner‐occupation in UK, namely the reintroduction of income tax…

Abstract

The article looks at the different distributional patterns of two alternative ways of reforming relief for owner‐occupation in UK, namely the reintroduction of income tax on imputed rent (the optimal reform, assuming housing is an investment good) or the withdrawal of tax relief for mortgage interest payments (possibly the more likely political reform). Inland Revenue data show that removal of mortgage interest relief (exclusive of the Option Mortgage) would be the more progressive measure. Removal of relief at higher rates of tax would be one possible step on the road to reform of mortgage interest.

Details

Journal of Economic Studies, vol. 12 no. 4
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 1 January 1987

PAUL NEEDHAM

Special problems arise in the valuation of property which is transacted in a market distorted by government policy in the particular form of the enterprise zone. This…

Abstract

Special problems arise in the valuation of property which is transacted in a market distorted by government policy in the particular form of the enterprise zone. This paper seeks to outline the nature of enterprise zones, the effect they have had on local property markets and the impact upon values and valuations created by rates exemptions and capital allowances. A case study illustrates how these factors may be taken into account in the valuation of industrial property in an enterprise zone.

Details

Journal of Valuation, vol. 5 no. 1
Type: Research Article
ISSN: 0263-7480

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