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The Pamphlet Collection of Sir Robert Stout: Volume 48

Separate Interests to be Valued. Section 24

Separate Interests to be Valued. Section 24.

Clause 24 is one that everyone who owns, leases, or sub-leases land should carefully consider. It is as follows:—"The interest of every person in any property shall be separately assessed, and every such person shall be liable to taxation in respect of the value of his interest in such property. Provided that in respect of land held in any tenancy exceeding a yearly tenancy, the interest of the owner of such land shall be estimated at a sum equal to an amount of fourteen times the annual rental received by the owner in respect of such land; and the interest of any occupier of such land shall be estimated at the sum such interest might be expected to bring if offered at public aucfion for cash."