Ratable Value

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Ratable Value

The value of real estate as estimated by the rent the owner could charge a tenant on a year's lease. The ratable value assumes the property is vacant when the real estate is sold.
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References in periodicals archive ?
The north London club will be forced to hand over PS3.7 million this year in rates, more than any other club in the UK, after officials said the ground had a rateable value of PS7.19 million.
While the savings will undoubtedly assist struggling operators in secondary and tertiary locations, it appears it will do little to impact on bar and restaurant operators within city centres, where rateable values tend to be higher than the PS51,000 threshold.
"The main issue raised with me by local publicans is the way in which your pricing strategy is based around the rateable value of the property," she continues.
Analysis by CVS found that 11,204 nurseries and play schools had rateable value of PS183.20m before the review, but have seen this rise by 32% to PS242.54m under the new regime.
Colliers found that some stores on Mostyn Street in Llandudno could see rateable values almost halved, with an average reduction of around 20%.
The draft 2017 list, for instance, will be published in the autumn of this year, giving businesses an opportunity to check factual errors and enabling them to factor any increases in rateable values into annual budgets.
The latest revaluation period came into effect on April 1, 2010, with rateable values based on a valuation date of April 1, 2008.
The advice follows the successful negotiation of a swathe of reductions in rateable values from the 2010 List on clients' properties by GVA's specialist Business Rates team.
'It was also announced in the Autumn Statement that businesses with assessments below a rateable value (RV) of pounds 6,000 will see an extension of the current two-year rates holiday for a further six months.
Local councils have started sending out the rate bills, based on the new 2010 rateable values produced by the VOA.
Under the scheme, businesses with rateable values of under pounds 15,000 on April 1, 2005, may qualify for a reduction in their business rates.