Valuation - Law Dictionary Search Results
Home Dictionary Name: valuationValuation list
Valuation list. By the (English) Rating and Valuation Act, 1925, in England outside the county of London, a list of all the rateable hereditaments in a rating area (and not in a parish) is to be prepared by the rating authority, i.e., the council of every county, borough, or urban and rural district to whom all powers of the overseers of the poor in regard to the levying and collection of rates were transferred by s. 1 of the (English) R. and V. Act, 1925, for the purposes of a general rate. A draft list is drawn up after requiring returns from the owner, occupier or lessee of every hereditament in the area. The draft list is revised by the assessment committee appointed by the rating authority for the area and is then transmitted to the rating authority, by whom it is deposited for public inspection at the office of the authority. Appeals may be made within twenty-five days from the date of deposit, and the lists are quinquennial and conclusive evidence of the value of the hereditamen...
Valuation
Valuation, is a process which does not end on marks being awarded by an examiner, Sanjay Singh v. U.P. Public Service Commission, (2007) 3 SCC 720.Means the act or process of valuing, Jensen v. Jensen, 458 NW 2d 391 (1990).This term is generally applied to the equivalent in money of any kind of property. Thus for the payment of estate duty, a valuation of property of all kinds has to be made. Perhaps the most important and the most difficult valuation is that of land. This has almost invariably to be undertaken whenever land is compulsorily acquired. The difficulties that surround this question were fully considered in the case of Re Lucas and Chesterfield Gas and Water Board, (1909) 1 KB 16, in which Lord Justice Moulton in the course of his judgment said (at p. 29):-'The principles upon which compensation is assessed when land is taken under compulsory powers are well-settled. The owner receives for the lands he gives up their equivalent-that is, that which they are worth to him in m...
special use valuation
special use valuation : a method of valuation allowed under the Internal Revenue Code in calculating estate taxes on farm property or on real property used in a closely held business in which the property is valued on the basis of its current use rather than at the market value for its highest and best use ...
Decreet of valuation of teinds
Decreet of valuation of teinds, a sentence of the Court of Session (who are now in the place of the Commissioners for the Valuation of Teinds) determining the extent and value of teinds, Ibid....
Valuation Roll
Valuation Roll. The list, prepared by assessors, which narrates each holding and its assessment. [Valuation Roll (Scotland) Order, 5th July, 1929]...
alternate valuation
alternate valuation : the appraisal of a deceased person's gross estate at the fair market value six months after the person's death ...
net valuation premium
net valuation premium : a premium for a life insurance policy set after a determination of the amount needed to cover liabilities and maintain policy reserves ...
valuation
valuation 1 : the act or process of valuing [actuarial of the assets and liabilities of a state pension fund] ;specif : appraisal of property [ of marital property is a factual finding that will not be upset unless clearly erroneous "Jensen v. Jensen, 458 N.W.2d 391 (1990)"] 2 : the estimated or determined value (as market value) of a thing [the total assessed of property in the district] ...
valuation hearing
valuation hearing see hearing ...
Valuation date
Valuation date, in relation to any year for which an assessment is to be made under this Act, means the last day of the previous year as defined in s. 3 of the Income-tax Act if an assessment were to be made under that Act for that year. [Wealth-tax Act, 1957 (27 of 1957), s. 2 (q)]...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial