25 Feb 2008
BEST ORIGIN LTD v. COMMISSIONER OF RATING AND VALUATION
- Citation
- BEST ORIGIN LTD v. COMMISSIONER OF RATING AND VALUATION
- Court
- Lands Tribunal
- Case number
- LDGA14/1998
The Tribunal held that where the mode/character of occupation at the relevant date is a development site, the development potential and the present likelihood of development must be taken into account in ascertaining rateable value; the Contractor's Basis using the adjusted auction price as capital value and a properly derived decapitalisation rate is an appropriate primary method; applying that method the correct rateable value for 1997/98 is HKD 26,880,000, and the Appellant's primary and alternative valuations (including PDM and contractor-as-tenant nominal valuation) were rejected.