1021.] 



Redemption of Tithe Rentcharge. 



829 



and that the land tax was at the rate of 3d. in the 

 pound in each of the three years; 



(3) The cost of collection was 2J- per cent.; 



(4) The case is one in which no remission or abatement in 



respect of rates was allowed to the titheowner; 



the consideration money for redemption would be arrived at 



as follows: — o a o a 



£ s. d. £ s. d. 



Gross Annual Value 118 G 



Deductions: — 



Rates on £73 at 5s. in the £ ... = 18 5 



£68 ,, 7s. in the £ ... = 23 16 



£63 9s. in the £ ... = 28 7 



Average for 3 years, 1918-20 ... = 23 9 4 

 Land tax at 3d. in £; Average for 



3 years, 1918-20, on £73, £68 



and £03 respectively = 17 



Cost of Collection, 21% on £118... = 2 19 



27 5 4 



Net Annual Value ... = £90 14 8 



The consideration money = £90 14s. 8d. x 17 = £1,542 9s. 4d., 

 i.e., approximately 15.42 years' purchase of the par value of 

 the tithe rentcharge, and 14.12 years' purchase of its present 

 value, viz., £109 3s. lid. 



It should be clearly understood that, owing to the wide 

 variation in the relative amounts of local rates, land tax and 

 cost of collection payable in respect of tithe rentcharge in 

 different parishes and by different titheowners, the cost of 

 redemption in any particular case may differ somewhat con- 

 siderably from that shown in the above example. For instance, 

 in the case of tithe rentcharge attached to a benefice, certain 

 abatements in respect of rates are allowed to the titheowner. 

 Consequently, in such a case, the deductions for rates would 

 usually be less, and the amount of the consideration for redemp- 

 tion would be greater than in cases where the tithe rentcharge 

 is owned by the Ecclesiastical Commissioners, a College or some 

 other lay body or person. In cases completed on this year's 

 basis for redemption, the calculation has worked out on an 

 average at 17} years' purchase of the par value for tithe rent- 

 charge attached to benefices, and 15J years' purchase for lay 

 tithe rentcharge. 



