Business Rates rateable values and appeals

Rateable Values and Appeals

A rateable value for each business property is assessed by the Valuation Office Agency and other than a few exceptions is based on the market rent it would be expected to command. The values of all the business properties in the Borough are shown in the Valuation List which can be viewed at the Civic Offices during normal opening hours or on the Valuation Office web site.

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Revaluation

A revaluation is undertaken every 5 years in order that the values in the Valuation List can be kept up to date. The current Valuation List came into effect on 1st April 2005 and the values are based on market rents as at 1st April 2003.  This list has already been published, and most ratepayers have been issued with a summary valuation showing a breakdown of how their rateable value has been calculated.

 

If you have any queries concerning your rateable value or you wish to appeal because you consider it is wrong you should contact The Valuation Office.

Further information on appeals including the grounds on which they can be made can be found on the Valuation Office website, and the Valuation Tribunal Service website.

Alternatively you may wish to seek advise on appeals from a specialist rating adviser. It is recommended that you only use those who are members of the Royal Institution of Chartered Surveyors (RICS) or Institute of Revenues Rating & Valuation (IRRV) since they will then be regulated by rules of professional conduct which are designed to protect the public from misconduct. 

If you do choose to use one who is not a member of the previously mentioned bodies, you should satisfy yourself that he or she has the appropriate knowledge and expertise and be wary that they do not make false or misleading claims. There have been cases, for example, where agents do not explain that a reduction on rateable value may not necessarily lead to a reduction in the amount you pay. This is because there are overriding limits on how much rates bills can change from year to year under the transitional relief scheme. Also it should be borne in mind that no one can guarantee reductions in rateable value because they are always subject to the agreement of the valuation officer, or the decision of a valuation tribunal or higher court.

Please note that the making of an appeal does not allow you to withhold payment in the meantime. If your appeal is successful interest is payable on any overpayment resulting from the amendment to the rateable value (providing it had not been necessary to implement recovery proceedings in order to obtain payment).

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Transitional Arrangements

Transitional relief is a Government scheme introduced to ensure that any large increases or large decreases in rates bills arising from the 5 yearly revaluations are phased in gradually over a number of years.  Under the scheme increases and decreases are limited to a set percentage.  For more information about the percentages and the calculation please see the the business link website.  You can also use their facility to estimate your rates bill.

For further information about business rates please use the following link: