Assessment Tax

Briefly, Holdings means the property of the existing land or no building thereon, held under a separate document of title and of the subdivided building. Referring to the definition of "holding" in section 2 (Interpretation) means includes mesuaj, building, furniture and furniture from any holding, whether exposed or besieged, whether the building is on it or not, whether public or private, and whether it is maintained under a statutory authority or not.

Assessment tax based on "annual value" in section 2 (Interpretation) under the Local Government Act 1976 (Act 171); -

Annual Value means reasonable annual rental rate estimate is expected to be obtained from year to year rather than in the case of rent, with the landlord paying for repairs, insurance, maintenance or maintenance at all rates and public taxes.

Under this assessment there is also a requirement that the vacant land is subject to assessment tax ie under the condition (c) ii to say the vacant land is not occupied or there is no such construction on the land subject to assessment tax in accordance with the annual value calculation as stated below.

Provided that; -

(a) at estimating the annual value no arrangement shall be taken of any restrictions or control of rent to the extent that such restrictions or controls limit the rent which may be required by a landlord or claimed from a resident of a holding:

(b) at the annual value of an invention existing on or on it any machinery used for any or all of the following purposes: -

i. make any thing or part of a thing.
ii. modify, repair, decorate or set up anything.
iii.Adjust any sales item.

(c) about where - land: -

i.which partly occupied or partly any building thereon;
ii.which empty, not occupied or there is nothing built on it.
iii.which there is on it a building that has been certified by the local authority as abandoned or bad or unfit for human habitation.

The annual valuation, in respect of the subparagraph (i), is either an annual valuation as defined hereinafter or ten per cent of its value in an open market at the absolute discretion of the Officers of Assessment and of the subparagraphs (ii), (iii) and (iv), the annual value is ten percent of its value in the open market as if in relation to subparagraphs (iii) and (iv), it is vacant land without any building thereon and in all cases local authority may, with the approval of the State Authority, reduce the percentage to a minimum of five percent.

(d) if in respect of any particular invention, the Officer-in-Charge is of the opinion that there is no sufficient evidence to enable an evaluation to be made on the evidence of the annual value of which the Officer-in-Charge may use any means of assessment which it deems appropriate to determine the annual value.