Rateable value (2024)

FAQs

What is the rateable value figure? ›

Rateable values of business properties are set by the Valuation Office Agency (part of HMRC) and used by local councils to calculate business rates bills. The VOA is responsible for calculating the rateable value of your property. Local councils use the rateable value to calculate your business rates bill.

You can find out the rateable value for any rated non-domestic property at the Scottish Assessors website. Use the non-domestic rates calculator on the mygov. scot website to estimate your rates bill. You can also find out about any relief (discounts) your property may be eligible for.

Rateable value is an estimated annual rental value of a property at a designated valuation reference date, assuming that the property was then vacant and to let from year to year, on the basis that the tenant undertakes to pay all usual tenant's rates and taxes, whilst the landlord undertakes to pay the Government rent ...

What are they? The Assessor is required to enter in the Valuation Roll a net annual value and a rateable value for each non-domestic subject. For almost all categories of property, the net annual and rateable values are the same.

we can grant 50% relief of rates for a maximum of three months to business properties which are empty. when properties remain empty longer than three months, 10% relief will be awarded for 9 months.

Business rates are charged on most commercial (non-domestic) properties such as shops, offices, pubs, warehouses, factories, holiday rental homes or guest houses. If the property is empty there is still a charge in most cases, and the owner/leaseholder/freeholder must pay this.

What is the business rate relief in Scotland 2024 25? ›

Revaluation Transitional Relief (RTR)

From 2024-25 the RTR will be: 25% for properties with a Rateable Value up to £20,000, 50% for those with a Rateable Value between £20,001 and £100,000, and. 75% for those with a Rateable Value over £100,000.

Rating multiplier

For 2024/25, the Government has set two multipliers: the Small Business Non-Domestic Rate Multiplier of 0.499 and the National Non-Domestic Rate Multiplier of 0.546. The City's multipliers have been set at 0.515 (51.5p in the £) for small businesses and 0.564 (56.4p in the £) for other businesses.

Rateable value (valor catastral)

It is the assessed value local Tax Authorities give to a property in Spain. It is usually well below the market value (BMV). This rateable value is used as the taxable base to calculate a series of property-related taxes.

Property taxes

Property tax is charged to the owner of any land or buildings (except government and consular properties) in Hong Kong SAR at the standard rate of 15% on the net assessable value of such land or buildings.

Rating manual means a publication or schedule that lists rules, classifications, territory codes and descriptions, rates, premiums, and other similar information used by an insurer to determine the applicable premium charged an insured.