What is a rateable value ?
Subject to certain conditions, the rateable value of a property is based on it’s annual open market rental value. Since the introduction of business rates in 1990, all business properties have been revalued every 5 years. For the 2005 revaluation, for example, the rateable values were calculated using the rental values as at 1st April 2003. The rateable values of all property are shown in the local rating list, a copy of which is available for inspection at the Valuation Office and our offices. The next revaluation is planned in 2010.
