HC Deb 22 January 1913 vol 47 c408
43. Mr. FELL

asked if the valuers of land and houses for the purposes of the Land Taxes have been instructed in their valuations to take into account the rise in the prices of all builders' materials, and the necessary increase in the cost of erection of houses at the present time, compared with the cost two or three years ago; and if this is taken into account in assessing the amount of the Increment Duty which may be claimed?


Valuers have been instructed that in estimating the site value on the occasion of a sale, lease, or death, the deduction to be allowed under Section 25 (4) (a) of the Finance (1909–10) Act, 1910, is to be measured by the difference between the market value of the land in its then condition and its market value as a stripped site. The former of these valuations must necessarily take account of any rise or fall in the price of building materials which does in fact influence the market value of the composite property.


Has not a circular been sent out calling attention to the great rise in the value of materials?