Record Details

Rating Valuation Model for Residential Properties in Sri Lanka: Case Study in Homagama

Journal of Research in Business, Economics and Management

View Archive Info
 
 
Field Value
 
Title Rating Valuation Model for Residential Properties in Sri Lanka: Case Study in Homagama
 
Creator Wasantha, A .V .U.; Government Valuation Department
Weerakoon, K .G .P .K; Department of Estate Management and Valuation,
Faculty of Management Studies and Commerce,
University of Sri Jayewardenepura
Wickramaarachchi, N.C.; Department of Estate Management and Valuation,
Faculty of Management Studies and Commerce,
University of Sri Jayewardenepura
 
Description Similar to the most countries, the property tax is the main source of income in local government authorities in Sri Lanka.  Property taxes include a variety of taxes on land, building & other immovable property. Rating is one form of property taxes and it is the major property tax in Sri Lanka.  The current practice of rating levying in the country is on the basis of Annual Value of the property. However, in some developed countries such as United Kingdom, it is calculated on the basis of the capital value. Hence, the aim of this research is searching for an alternative approach for rating valuation based on the capital value of the property. Data collection was mainly done with the help of Rating Cards maintained by the Government Valuation Department of Sri Lanka. Results indicate that six main factors significantly influence in calculating the capital value. Hence, the final model, which is based on both land and building values was calculated according to the six factors that were significant in the analysis. Key Words: Rating Valuation, Capital Value, Annual Value, Mass Appraisal, Valuation Model
 
Publisher University of Sri Jayewardenepura
 
Contributor —
 
Date 2013-01-28
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://journals.sjp.ac.lk/index.php/SLJRE/article/view/1063
 
Source Sri Lanka Journal of Real Estate; No 6 (2012)
 
Language eng
 
Relation http://journals.sjp.ac.lk/index.php/SLJRE/article/view/1063/725