VALUATION OF LAND ACT 1916 - SECT 5
Improved value of land
VALUATION OF LAND ACT 1916 - SECT 5
Improved value of land
5 Improved value of land
(1) The improved value of land is the capital sum which the fee-simple of the
land might be expected to realise if offered for sale on such reasonable terms
and conditions as a bona-fide seller would require.
(2) In determining the
improved value of any land being premises occupied for trade, business, or
manufacturing purposes, such value shall not include the value of any plant,
machines, tools, or other appliances which are not fixed to the premises or
which are only so fixed that they may be removed from the premises without
structural damage thereto.
