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Rateable Value - How Business Rates are Calculated

Apart from properties that are exempt from Business Rates, each non-domestic property has a rateable value which is normally is fixed in most cases by the Valuation Officers of the Valuation Office Agency (VOA), an Agency of the Inland Revenue and is revalued every five years. It draws up and maintains a full list of all rateable values. The rateable value of your property will be shown on the front of your Bill.

From April 1, 2017, the rateable value of a property represents its open market rental value as at April 1, 2015. The values of all property, in respect of which rates are payable to your authority, are shown in the local rating list, a copy of which may be inspected at the Valuation Office, London House, New London Road, Chelmsford, CM2 0QL, or online from the Valuation Office Agency.

The Valuation Officer has to maintain the list and may alter the value if he or she believes that the circumstances of the property have changed.A full list of rateable values are available on the Valuation Office Agency website.
 

National Non-Domestic Rating Multiplier

The Council calculates the Business Rates Bill by multiplying the rateable value of the property by the multiplier or 'poundage', which the Government sets annually from 1 April for the whole of England. The Government normally changes the multiplier every year to move in line with inflation. By law, the multiplier cannot go up by more than the rate of inflation, except in the year of a revaluation when it is set at a level which will keep the total amount raised in Rates after the revaluation the same as before, plus inflation for that year.

Find out how business rate valuations are calculated on the GOV.UK site.

The Rating Multiplier was:

For 2005/2006
  • 42.2 (standard multiplier)
  • 41.5 (small business multiplier)
For 2006/2007
  • 43.3 (standard multiplier)
  • 42.6 (small business multiplier)
For 2007/2008
  • 44.4 (standard multiplier)
  • 44.1 (small business multiplier)
For 2008/2009
  • 46.2 (standard multiplier)
  • 45.8 (small business multiplier)
For 2009/2010
  • 48.5 (standard multiplier)
  • 48.1 (small business multiplier)
For 2010/2011
  • 41.4 (standard multiplier)
  • 40.7 (small business multiplier)
For 2011/2012
  • 43.3 (standard multiplier)
  • 42.6 (small business multiplier)
For 2012/2013
  • 45.8 (standard multiplier)
  • 45.0 (small business multiplier)
For 2013/14
  • 47.1 (standard multiplier)
  • 46.2 (small business multiplier)
For 2014/15
  • 48.2 (standard multiplier)
  • 47.1 (small business multiplier)
For 2015/16
  • 49.3 (standard multiplier)
  • 48.0 (small business multiplier)
For 2016/17
  • 49.7 (standard multiplier)
  • 48.4 (small business multiplier)
For 2017/18
  • 47.9 (standard multiplier)
  • 46.6 (small business multiplier)


Estimate your bill

You can get an indication of what your Business Rates bill might be from an online calculator on the GOV.UK site. The results will be based on the information your provide.

Estimate your business rates ► 

 


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