§ Mr. ROYDSasked the Chancellor of the Exchequer whether, having regard to Section 25 (2) of the Finance (1909–10) Act, 1910, which provides that, in ascertaining site value of land, the land is to be regarded as divested of any buildings, the valuers have been instructed in ascertaining the site value of an occupation to regard adjoining occupations as divested of buildings as well as the occupation under valuation in accordance with the provisions of the Act; and, if not, whether such site value does not in fact include value attributable to the presence of buildings contrary to the Act?
§ Colonel SEELY (for the Chancellor of the Exchequer)Section 25 (2) of the Finance (1909–10) Act, 1910, enacts that, for the purpose of ascertaining the full site value of land, the land is to be deemed to be divested of buildings, etc., but it does not enact that surrounding land is to be similarly divested. The full site value of land does not include value attributable to the presence of buildings on that land.