An attempt at introducing site value taxation in the administrative County of London was made by the local authority under the leadership of Herbert Morrison in the 1938 9 Parliament, called the London Rating ( Site Values ) Bill.
12.
An attempt at introducing site value taxation in the administrative County of London was made by the local authority under the leadership of Herbert Morrison in the 1938 9 Parliament, called the London Rating ( Site Values ) Bill.
13.
For example, assume that " House B " has a value as a house of $ 200, 000, and a site value as a commercial lot of $ 250, 000 with a cost to demolish the house and prepare the site at $ 25, 000.
14.
Any subsequent sale or grant of a lease, or transfer of an interest in a piece of land, or the subsequent death of a land-owner, provided the occasion for a potential payment of increment value duty; the site value at that date had then to be determined.
15.
Section 26 ( 1 ) of the Act required the Board of Inland Revenue to ascertain the site value of all land in the United Kingdom as on 30 April 1909 . This value constituted the " datum line " for the purposes of increment value duty.
