Wealth tax valuation rules set methods for valuing immovable property, business assets, jewellery, life interests and residuary assets. For wealth tax purposes, immovable property is generally valued by multiplying net maintainable rent by 12.5 with adjusted multipliers for leasehold terms and a floor of cost of acquisition or construction subject to residential exceptions; net maintainable rent equals gross maintainable rent less local taxes and 15%. Business assets are valued globally from balance sheet figures with higher Schedule values prevailing if they exceed book values by over 20%. Jewellery is valued at fair market value with prescribed reporting, life interests use an actuarial fraction at 6.5% interest, and all other assets are valued by Assessing Officer or Valuation Officer at open market price.