sec.25Working out the value of site or non-site improvements

### sec.25 Working out the value of site or non-site improvements This section applies if, under this division, it is necessary to work out the value of site improvements or non-site improvements (the existing improvements ) to or on the land to decide its site value or unimproved value. The value of the actual improvements is the lesser of the following— the added value the existing improvements give to the land on the valuation day, regardless of their cost; the cost that should have reasonably been involved in effecting to or on the land, on the valuation day, improvements of a nature and efficiency equivalent to the existing improvements. In this section— added value , of non-site improvements, includes the value of any commercial hotel licence whose value has been included in the land’s value. s 25 amd 2013 No. 23 s 352 sch 1 pt 1 (sec.25-ssec.1) This section applies if, under this division, it is necessary to work out the value of site improvements or non-site improvements (the existing improvements ) to or on the land to decide its site value or unimproved value. (sec.25-ssec.2) The value of the actual improvements is the lesser of the following— the added value the existing improvements give to the land on the valuation day, regardless of their cost; the cost that should have reasonably been involved in effecting to or on the land, on the valuation day, improvements of a nature and efficiency equivalent to the existing improvements. (sec.25-ssec.3) In this section— added value , of non-site improvements, includes the value of any commercial hotel licence whose value has been included in the land’s value. - (a) the added value the existing improvements give to the land on the valuation day, regardless of their cost; - (b) the cost that should have reasonably been involved in effecting to or on the land, on the valuation day, improvements of a nature and efficiency equivalent to the existing improvements.