Test case Supreme Court ruling on refurbished property rating hailed as victory for common sense
The Supreme Court has unanimously allowed S J & J Monk’s appeal against the Valuation Office in a long-running test case focused on how property undergoing refurbishment or redevelopment is revalued. The ruling has significant implications for rating of property in the UK ahead of April's contentious rates revaluation with the decision being hailed by experts as supportive of development across the UK.
“This is a victory for common sense” said Josh Myerson Partner at Montagu Evans,
"as it properly reflects the lack of beneficial occupation while building works are continuing. Unfortunately the Court of Appeal had decided to ignore the reality of the situation which had forced the Valuation Officer to retain an assessment under certain circumstances where builders where on site. Today’s decision returns us to the law as it stood prior to the Court decision in 2015 which will make absolute sense to rate payers everywhere."
Read the full story on CoStar HERE