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GREAT BRITAIN AND IRELAND - MISCELLANEOUS 



Table I. — Progress of the Original Valuation. 



§ 7. The land value duties imposed by the act. 



This article being restricted to Systems of Valuation, the Duties im- 

 posed by the Finance Act can only be shoilly explained. 



The duties are : (a) Increment Value Duty; (6) Undeveloped Land Duty; 

 (c) Reversion duty. 



(a) Increment Value Duty. 



Increment Value Duty is at the rate of £1 for every complete £5 of 

 increment value accruing after 30th. April, 1909, and is collected so far 

 as it has not been previously paid on each occasion of : 



{a) The transfer on sale of the fee simple or any interest in land ; 

 {h) The grant of a lease of land for a term exceeding 14 years ; 

 (c) The passing on death of the fee simple or any interest in land. 

 The increment value is the amount by which the Site Value on each 

 such an occasion exceeds the Assessable Site Value in the Original Valua- 



