All Non-Domestic properties have a 'rateable value' that is set by the Valuation Office Agency (part of HMRC). These values are shown in the Rating List, which can be viewed on the Valuation Office Internet Site. It is also shown on your rate demand. Information is also available on our National Non-Domestic Rates webpage.
Rateable values are re-assessed every 5 years in a national 'revaluation'. They are based on the open market rental value of the property as at a certain date. The latest Rating List is effective from 1st April 2010 and is based on rental values as at 1st April 2008. The next revaluation was due to take place with effect from 1st April 2015, however, the Government has announced that this is now delayed and regular 5 yearly reviews will resume after 2017. More information about revaluations can be found on the Valuation Office website.
Additional information may also be found on the Government website.
The rate payable is calculated by applying the multiplier set each year by the Government to the rateable value. The multiplier can be found on your rate demand.
Some properties are used for both business and living accommodation, for example pubs. If this is the case, both Business Rates and Council Tax will be payable, and the Council will issue one bill for each.