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The Valuation Office Agency (VOA) deals with checks and challenges and the independent Valuation Tribunal for England [9] handles any appeals. The online service allows users to "claim" a property and to check the information the VOA hold, this record can then be amended or challenged and if not resolved then they can move to appeal.
Rates on residential property were based on the nominal rental value, reassessed periodically in revaluations. By the Rating and Valuation Act 1925 (15 & 16 Geo. 5. c. 90), revaluations were supposed to take place every five years but in practice they were frequently delayed or suspended.
Real estate appraisal, property valuation or land valuation is the process of assessing the value of real property (usually market value). Real estate transactions often require appraisals because every property has unique characteristics.
Public houses are valued by the profits method of valuation, often referred to as Fair Maintainable Trade Or Turnover (FMT). The FMT method applies to tens of thousands of commercial properties in England and Wales and is the basis of rateable valuation by the Valuation Office Agency, who also follow this method.
In 1996, Estates Gazette launched its own online property news and research arm, EGi. In 1997, the group launched Propertylink, the UK's largest free-access commercial property availability search website. In March 2008, Estates Gazette was announced as one of the top 500 "Business Superbrands" in the UK. [2] EG Office (2012)
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In Scotland, a valuation joint board is a public body that is responsible for property valuations for local tax purposes across multiple council areas. [1] Each board is made up of a number of members appointed by the local councils in its area. [2] The official that is responsible for property valuations is the Assessor.
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