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RAILWAYS: VALUATION FOR RATING Joint Memorandum by the Minister of Health and the Joint Parliamentary Under-Secretary of State for Scotland.

23 Oct 1945

ANNEX 1. The fundamental rule which underlies all rating law is that the valuation is calculated from the rent which would be paid from year to year by a tenant. Since public utility undertakings are, in the nature of things, never let from year to year, certain conventional practices have grown up and been recognised by the Courts; the method adopted for railways is known as the "profits principle", the object being to determine what rent a hypothetical tenant would be prepared to pay for the undertaking as a going concern.
Civil Defence Region
Nationwide
Collection ID
CAB71
Document Reference
CAB 71/22/17
Document Types
Memorandum
File Reference
CAB 71/22
Former Department Reference
LP(45) 204
Identifier
10.1080/wtss.cab71.000022.017
Keywords
Infrastructure Nationalisation Public Transport Railways Transportation
Language
English
Organizations Discussed
Lord President's Committee Ministry of Health Scottish Office
Pages
6
Published in
United Kingdom
Series
Papers 190(45) - 267(45)
Themes
Industry Infrastructure Transport Travel