net annual value definition
net annual value. , in relation to any property, means the annual value of such property less the expenses of repair, insurance, interest, maintenance or upkeep and all public rates and taxes paid thereon;
net annual value of any land, means—
net annual value means, in relation to a property, the rent for which, one year with another, the property might, in its actual state, be reasonably expected to let from year to year, on the assumption that the probable average annual cost of repairs, insurance and other expenses (if any) that would be necessary to maintain the property in that state, and all rates and other taxes in respect of the property, are borne by the tenant.”
More Definitions of net annual value
net annual value. ' means the gross annual value less the probable annual average amount likely to be expended for repairs and insurance;
net annual value means net annual value for the purposes of the Rates (Northern Ireland) Order 1977 and shall be construed in accordance with Articles 39 and 39A of that Order.]
net annual value means the amount clear of all rates, taxes, and other outgoings which the property to be set apart would be capable of producing yearly in the opinion