The Valuation for Rating (Decapitalisation Rate) (Scotland) Regulations 2005
These Regulations prescribe the decapitalisation rate to be applied when valuing lands and heritages in Scotland in accordance with the contractor’s basis for the purposes of any valuation roll which comes into force on or after 1st April 2005. The contractor’s basis is the method of ascertaining the net annual value of lands and heritages by reference to their cost of construction or provision or to their capital value.