https://www.taxtmi.com/caselaws?id=180035 For properties freed from rent control, actual annual rent received may be used as the basis for rateable value under municipal law, because it is ordinarily the best evidence of the rent the property might reasonably fetch from year to year. The owner may displace that basis by showing special circumstances such as extraneous factors affecting the rent. A property tax measured by annual rent remains a tax on lands and buildings, not on income, because rent is only the method of valuation and does not alter the true character of the levy. The municipal property tax was therefore treated as within legislative competence. en-us Wed, 05 Aug 1998 00:00:00 +0530 Tue, 15 Mar 2016 15:17:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180035 For properties freed from rent control, actual annual rent received may be used as the basis for rateable value under municipal law, because it is ordinarily the best evidence of the rent the property might reasonably fetch from year to year. The owner may displace that basis by showing special circumstances such as extraneous factors affecting the rent. A property tax measured by annual rent remains a tax on lands and buildings, not on income, because rent is only the method of valuation and does not alter the true character of the levy. The municipal property tax was therefore treated as within legislative competence. Case-Laws Indian Laws Wed, 05 Aug 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180035