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Rates in the United Kingdom. Rates are a tax on property in the United Kingdom used to fund local government. Business rates are collected throughout the United Kingdom. Domestic rates are collected in Northern Ireland and were collected in England and Wales before 1990 and in Scotland before 1989.
Marriage Value. Marriage value, also called synergistic value, is a concept in property valuation. It is defined by the Royal Institution of Chartered Surveyors as "an additional element of value created by the combination of two or more assets or interests where the combined value is more than the sum of the separate values". [1]
A land value tax ( LVT) is a levy on the value of land without regard to buildings, personal property and other improvements upon it. [1] It is also known as a location value tax, a point valuation tax, a site valuation tax, split rate tax, or a site-value rating . Some economists favor LVT, arguing it does not cause economic inefficiency, and ...
The term 'property chain' is common in real estate, especially in the UK. The chain is the line of people buying and selling. The chain is the line of people buying and selling. For example, there might be a first-time buyer trying to purchase a small flat, another person waiting to move from the flat to a small house, another person waiting to ...
The UK property market boomed for the seven years up to 2008, and in some areas property trebled in value over that period. The increase in property prices had a number of causes: low interest rates, credit growth, economic growth, rapid growth in buy-to-let property investment , foreign property investment in London and planning restrictions ...
Real estate appraisal, property valuation or land valuation is the process of developing an opinion of value for real property (usually market value).Real estate transactions often require appraisals because they occur infrequently and every property is unique (especially their condition, a key factor in valuation), unlike corporate stocks, which are traded daily and are identical (thus a ...
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