23 Apr 1986
ROYAL HONG KONG YACHT CLUB v. COMMISSIONER OF RATING AND VALUATION
- Citation
- ROYAL HONG KONG YACHT CLUB v. COMMISSIONER OF RATING AND VALUATION
- Court
- Lands Tribunal
- Case number
- LDRA38/1985
Tribunal accepted contractor's basis, rejected arbitrary multipliers and unsupportable comparables, fixed a decapitalisation/net rate of 8% (balancing competing expert figures and authorities), adopted a recreational land value of $403.5/m2 (applying a 3:1 urban:rural adjustment to the Beas River control), applied a 15% discount to large site land unit where appropriate and unit for submerged land at one-third of dry land, computed an effective capital value of $18,614,188.80 and, applying the 8% decapitalisation, determined the rateable value at $1,490,000, ordering amendment of the valuatio…