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High Court, on a case stated by the Valuation Tribunal, determines that the Tribunal had erred in its valuation of a wind farm in its 'actual state' as at the publication of the valuation list in September 2017, where the 'valuation date' was in October 2015, but the wind farm did not become operational until 2017, on the grounds that: (a) the relevant legislation specifically provided that the valuation should be applied concerning the 'actual state' of the property as at the valuation date; (b) taxation statutes were not subject to a purposive approach in the same manner as other legislation; and (c) there was provision in the legislation for revision of the valuation if an event occurred that changed the valuation.
Valuation of property - rates - case stated from Valuation Tribunal - valuation date - 'actual state' of property - valuation of wind farm - decision of tribunal to assess wind farm as at date of publication of valuation list, rather than the valuation date - Valuation Act 2001 - principles of statutory interpretation - non-application of purposive approach to taxation statutes - dangers of applying 'common law' of rating - Section 19(5) of the Valuation Act 2001 - requirement that rateable value be correct 'insofar as is reasonably practical' - reference to events subsequent to valuation date - revision of existing valuation list - material change in circumstances - receipts and expenditure method of valuation - valuation date of October 2015 - windfarm operational from March 2017 - energy output of wind farm - reliance on hindsight in certain cases where an event subsequent to the valuation date affects the value.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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