STATUTORY VALUATIONS RATING COURSEWORK (REAL ESTATE BSc COURSE)

STATUTORY VALUATIONS RATING COURSEWORK (REAL ESTATE BSc COURSE)

Project description
REAL ESTATE BSc

Please answer all parts of the following

a)Define what is meant by a hereditament. Refer to statute and case law in your answer.

b)Identify one office hereditament within Greater London which has a Rateable Value in excess of 75,000 p.a. and also had a Rateable Value under the 2005 rating list.

Describe the hereditament outlining aspects which are likely to affect the rateable value.

c)Explain the basis for calculating a Rateable Value including the relevant dates and the hypothetical assumptions.

d)Find the last Rateable Value for your chosen hereditament in the 2005 rating list and calculate the rates which should have been payable in 2009/2010. Clearly

explain how the rates bill was calculated.

e)Find the Rateable Value for this hereditament as at 1st April 2010 and calculate the rates which should have been payable in each of the 5 years 2010/2011, 2011/12,

2012/13, 2013/14 and 2014/15 taking into account any transitionary/ phasing or other reliefs. Clearly explain how the rates bills are calculated .

f)By adopting the floor areas and other information from the list valuation, and after identifying settled rateable values and/or on-line or other comparables, discuss

whether the April 2010 Rateable Value is correct for the property.

g)Discuss changes to the non domestic rating system which you consider would make local taxation fairer to businesses.

You can make any reasonable assumptions which you deem are appropriate but you must clearly state all assumptions which you make.

Remember: always to state the relevant law, and to support your arguments with reference to statutory or judicial authority where available and appropriate. It is not

necessary to write out at any length the facts of a case you are citing as authority for a point you are making; just extract the relevant principle, or, as

appropriate, the factor which distinguishes that case from the facts in the case you are considering. If you quote, acknowledge your source. Do NOT write out extended

chunks of any text book, web site or other source material. Do NOT cite Wikipedia or other non-authoritative sources.
If you use a web site as a source, make sure it is setting out the law in England and Wales and NOT other jurisdictions.

Assessment Criteria

1.Completion of the valuation and understanding of the basis of valuation for rating.

2.Use of and demonstration of understanding of the appropriate Rating Law and procedures

3.Illustration of and understanding of rating theory and practice

4. Layout and logical progression with mathematical accuracy.

This assessment counts for 50% of the total assessment for this module

Self-assessment.

Using the performance criteria above, indicate what you consider to be an appropriate percentage mark for your work. Bear in mind that a basic pass is 40 per cent.
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Name: Self assessment = %

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