unimproved value

British  

noun

1. the valuation of land for rating purposes, disregarding the value of buildings or other development

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Example Sentences

Country ratepayers for the most part approved the change to the unimproved value assessment; but speculators in unoccupied city, town, and suburban lands regarded it as a gross injustice.

From Our First Half-Century: A Review of Queensland Progress Based Upon Official Information by Queensland

So the unimproved value mode of assessment has apparently assisted to make a substantial reduction in the market value of city and suburban properties.

From Our First Half-Century: A Review of Queensland Progress Based Upon Official Information by Queensland

The "unimproved value" is by no means an accurate definition of what either the taxpayers or the Legislature at the time desired.

From Our First Half-Century: A Review of Queensland Progress Based Upon Official Information by Queensland

On the other hand, the rate levied under the unimproved value assessment upon vacant lands is sometimes oppressive, and appreciably reduces their capital value.

From Our First Half-Century: A Review of Queensland Progress Based Upon Official Information by Queensland