ABSTRACT
This chapter examines the basis of the way in which dwellings are valued for council tax purposes under section 22 of the Local Government Finance Act 1992 (1992 Act). It identifies the definition of capital value and explores its meaning. The billing authorities' original valuation lists for England, Scotland and Wales contained details of the chargeable dwellings for each authority's respective area. Various enactments define "domestic" property including section 66 of the Local Government Finance Act 1988, that is, the principal statute for non-domestic rating. It is, of course important that the listing officer correctly identifies property to be included in the valuation list. In most cases this will be obvious but problems may arise in respect of certain properties, such as: caravans and houseboats, composite property, and so on. Under the Domestic Property Regulations 1991 SI 1991 No 1934, the basis of valuation is open market value, that is, capital value.
