President State Chamber of Commerce and Industry

The changes, which encouraged councils to switch from site value rating systems to the Capital Improved Value rating system was a form of capital gains tax on one’s house and business and its introduction should be opposed. The C.I.V. rating means in effect you will be taxed for making improvements to your house, for example painting it, building extensions, putting in a swimming pool and so on” he said. “It will discriminate against homeowners and business people who will have to pay more for making improvements to their properties or who may even be discouraged from doing so.” Michael Porter The Herald 28/10/1987