Professor Pete Wyatt quoted in discussion on first ever CIL appeal case
Pete Wyatt, REP's Professor of Real Estate Appraisal, spoke to Property Week recently on the first ever Court of Appeal case over the payment of a Community Infrastructure Levy (CIL).
Speaking to Property Week, Pete, said "CIL is supposed to mean that relatively low pounds per square metre get levied but in Camden and high-value areas like that, the pounds per square metre are much, much higher than they are in most other cases".
He went on to say that the major downside of CIL is the wealth disparity it creates between local authorities such as Camden that can afford to reap the benefits of CIL and the ones that cannot. With other local taxes, he claims, these sorts of discrepancies are remedied with a redistribution mechanism that spreads out the takings of the tax nationally, whereas with CIL, there is no redistribution mechanism.
Pete was co-author on a research report which was commissioned by the Department for Communities and Local Government to conduct research on the Community Infrastructure Levy (CIL). The report was published in 2017 as supporting evidence underpinning the Housing white paper. Further details available here: http://bit.ly/PWCIL
The full text of the article in Property Week is available here, subscription required: http://bit.ly/CILPropWeek
|Published||2nd April 2019|