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.
References in periodicals archive ?
Analysis by CVS found that 11,204 nurseries and play schools had rateable value of PS183.
Colliers found that some stores on Mostyn Street in Llandudno could see rateable values almost halved, with an average reduction of around 20%.
From today (30 September 2016), anyone in England and Wales who pays business rates, can go online to check their new draft rateable value.
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.
Up to PS1,000 off rates bills for retailers (and other users), where their rateable value is PS50,000 or less, for 2014-15 and 2015-16.
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.
All business premises--whether they are owner-occupied, leased or licensed--are given a rateable value by the Valuation Office Agency (VOA) in England and Wales.
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.
Overall, the average rateable value of business property in England currently stands at pounds 32,800.
But the Government's Valuation Office Agency (VOA), which sets rateable values for businesses, contacted the cafe owner last week to offer a cut in his pounds 12,250 valuation to pounds 11,000.
TRADERS across the country should continue to check their rateable values as business rates bills start landing on their doormats this month.