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Following that thought, the cleanest test would be pairs of broadly similar homes in the same small area and condition band, but with different recurring tax amounts. If their outcomes do not diverge, the tax probably belongs in affordability screening rather than valuation. Any interpretation...

There’s a danger of double-counting. If completed sale prices already reflect buyers’ views of tax and other running costs, applying another tax discount could understate value. A separate adjustment makes more sense only when the subject property differs materially from the closest comparable...