SCHEDULE 5CALCULATION OF CHARGEABLE VALUES
3
Subject to sections 11 and 12—
a
the base value for a land category is £500 per acre,
b
the assumed value for a land category per acre is as shown in the following table—
Land category | Assumed value per acre | Valuation assumptions |
|---|---|---|
Agricultural, Land Class 2 | £6,000 | Value disregards improvements to land not carried out under the Pow Acts. |
Agricultural, Land Class 3.1 | £5,500 | Value disregards improvements to land not carried out under the Pow Acts. |
Agricultural, Land Class 3.2 | £4,500 | Value disregards improvements to land not carried out under the Pow Acts. |
Agricultural, Land Class 4 | £3,000 | Value disregards improvements to land not carried out under the Pow Acts. |
Agricultural, Land Class 5 | £2,500 | Value disregards improvements to land not carried out under the Pow Acts. |
Woodland | £600 | Value disregards timber crop and improvements to land not carried under the Pow Acts. |
Amenity land | £500 | Value disregards improvements to land not carried out under the Pow Acts. |
Commercial use | £50,000 | Value disregards improvements to land not carried out under the Pow Acts. |
Residential use | £300,000 | Value assumes unserviced and unbuilt plot with planning consent for residential use. |