djc wrote
Adrian Simpson wrote
hugh ] wrote

Revaluation should only take place when a property
is sold IMO. That is the only point at which the value
of the property has any relationship with your income.

Most of the houses in my street were built in 1939.
Up until 5 years ago, one of them was still lived in by its
original occupant. How would you have valued that one ?

Why not on its 1939 value.

Because it makes absolutely no sense that someone who hasnt
moved for that long should be paying much less property tax
than someone who has only moved in the last year or so.

It reflects what the owner could afford in 1939.

You dont know that. That was the end of the depression after all.

If they stayed there all that time then : it had not *in their view*
appreciated vis a vis any alternative accommodation they could afford;

You dont know that either.

if it had they could have moved home and realised the implicit capital gain.

Or they may just prefer to stay there for various reasons.