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Business rates | South Cambs District Council Revaluation.

Every five years the Valuation Office Agency (VOA) gives all non-domestic (business) properties new rateable values so local authorities can work out the business rates. The purpose of the revaluation is not to change the amount of money collected in rates nationally, but to make sure that individual rateable values reflect the changes that have taken place in the property market since the last revaluation.

Business Rates Revaluation 2017 The rateable value is assessed by the Valuation Office Agency, which is an agency of HM Revenue and Customs. This is done to maintain fairness in the system by redistributing the total amount payable in business rates, reflecting changes in the property market.

A property's rateable value is an assessment of the annual rent the property would rent for if it were available to let on the open market at a fixed valuation date. Business rates - Valuation Tribunal Service The next rating list will be in place from 1 April 2017.

The rates bill is made up from the rateable value and a multiplier, which is set by the Government.

Rates are charged at a percentage of the rateable value which is the estimated annual rental value of a property at a designated valuation reference date, assuming that the property was then vacant and to let. Following a general revaluation, a new Valuation List is declared by the Commissioner in the month of March and is made available for public inspection up to 31 May of the year the list comes into force. The layout of my property has been changed, which may involve a sub-division of a single unit into numerous separated units, or a combination of several units into a single unit, am I required to inform the Rating and Valuation Department of the change? Downloadable document: Title 6 Valuation of domestic properties for rates | nidirect To assess rates on a domestic property, Land & Property Services uses the property's capital value.

3 Rating and Valuation Department - Rates The purpose of a general revaluation of all properties is to redistribute the total rates liability fairly amongst ratepayers according to the prevailing rental levels of the properties they occupy. 4 Business Rates Revaluation 2017 It has completed the revaluation of rateable values. They use capital values based on 1 January 2005 house prices.

These will be used to calculate business rate bills from 1 April 2017. You can search for property valuations in different council areas and apply for a re-valuation if you think the capital value is wrong. To apply for a property revaluation after alterations to your home, you can apply online 7 Scottish Assessors Association | Rating Revaluation Search Valuation Roll by Description.

For more information about the 2017 revaluation, rateable values and business rates visit GOV. You can also estimate your 2017/18 rates bill, including any small business rate relief that may apply. All fourteen Assessors across Scotland have linked their detailed property descriptions to one of approximately 200 core descriptions.

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