MS, Cabinet Secretary for
Finance and Welsh Language: Over the last two Senedd terms
extensive research has been carried out to inform future thinking
about the possibility of a Land Value Tax for Wales.
Today, the latest steps in that process see the publication of a
series of reports presenting the findings of research
commissioned by the Welsh Government to explore different
approaches to valuing land.
The reports sit within a wider body of research exploring
alternatives to existing local taxes, including earlier work by
Bangor University that provided a technical assessment on
the potential of a local land value tax in Wales. They
examine how land could be valued in practice and the challenges
associated with different valuation approaches.
Over the past two years, research was undertaken by the
University of Gloucestershire, the Valuation Office Agency (VOA),
Alma Economics, Axion Solutions, Bangor University, Industryline
Research and Tesseract Academy. The results of this research
provide new evidence and analysis, test a range of valuation
approaches, and strengthen our understanding around the
feasibility of land valuation in a Welsh context. This is an
important step forward when considering alternative approaches to
taxation in Wales and I would like to thank all those involved in
contributing to this programme of work.
The full set of reports can be accessed on our Testing land valuation methods
webpage.
