Patrick H.Bond is Head of Rating Valuation at the Valuation Office Agency and a former valuation officer. He is a visiting lecturer at Cass Business School, City University, UK,and a well-known speaker on Rating Valuation. He is currently President of the Rating Surveyors' Association. Peter K. Brown is aformer Professor of Property Taxation at Liverpool John Moores University, UK,and a former David C. Lincoln Research Fellow, Lincoln Land institute, Cambridge, Massachusetts, USA. He was a member of the second Wood Committee looking into the rateability of plant and machinery. He is also a regular speaker at conferences and contributes to articles in the professional press.