 The valuation assumes that a year-to-year (that is, ongoing) lease is being agreed, where the tenant pays all repairs and insurance, and that the property "is in a state of reasonable repair".It appears that it was the intention of the drafters of the Local Government Finance Act 1988 that the previous assumption of @reasonable repair' would continue in the new system.However, a successful legal challenge at the Lands Tribunal ("Benjamin (VO) v Anston Properties Ltd" [1998]) showed that they had in fact failed to include it in the legislation.