Land Value Taxation Campaign

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Home Blog Highest and best use

Highest and best use

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It is generally suggested that for LVT valuation purposes, it should be assumed that the land is in the "highest and best use in accordance with the local plan". I would question this. Should it not be "existing use or on the assumption that developments in accordance with planning consents have been completed"?

This gets rid of all room for doubt. It also means that valuations must be Annual Rental Value not Capital Value. Anyone, including the local planning authority itself, can make a planning application on another's land so this is not going to encourage anyone to sit on undeveloped land.

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