for public works
Many people are not aware of the rights to compensation and other benefits which they have if their homes are affected by public works. The compensation code was improved and extended by the Land Compensation Act 1973 to provide a better deal for those who suffer as a result of works undertaken for the benefit of the community. The following is a precis of the act.
Part 1 of the 1973 Land Compensation Act is designed to compensate for depreciation in property value as a result of public works. There are six main factors which can affect property value for which you can be compensated. They are: noise; vibration; smell; fumes; smoke and artificial lighting. and discharge of solid or liquid substance.
Eligibility for compensation:
The freehold owner of the property on the claim date.
The claim date is usually twelve months after the start of use of the works. ie the opening of a new highway, road improvement scheme, airport or similar.
Amount of Compensation:
Depreciation of more than 50 in market value of your property on the valuation date. Interest will be payable from the date of the claim or claim date, whichever is the later, until the compensation is paid. NOTE tax is due on any interest paid. The Act also covers the cost of a consultant to act on your behalf. This cost is paid directly to your consultant and is not a part of your compensation. You are advised to seek out a qualified land valuation expert who is experienced with the 1973 Land Compensation Act. Just being conversant is not enough it will be your loss.
This is merely a short extract. It is not intended to be a full account.
Produced by Roy Hart for Warblington & Denvilles Residents' Association.
For more information contact: Andrew Norton Tel: + 44 (0)23 92 474341.
Last updated on 29 February 2016.