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Dictionary
rateable value
noun
An official estimate of the value of a property used as a basis of local taxation
Exact(45)
Every business is assessed and given an individual rateable value.
If firms invest in equipment and machinery, the rateable value of their premises goes up.
Discount for pubs (rateable value less than £100,000) extended by one year to March 2019.
For a married couple living in a property with a high rateable value, annual rate bills running into thousands of pounds were reduced to a few hundred.
"If you improve your building by putting in air conditioning you increase its potential rateable value and so you'll see an increase in business rates.
Under the proposal, large retail outlets with a rateable value in excess of £500,000 would have to pay an extra business levy of up to 8.5%.
Similar(15)
Rateable values are set independently by the Valuation Office Agency, which uses a widely accepted method to assess NHS hospitals.
An adjustment of rateable values – based on property prices – will take effect next April and will increase average bills, especially in London and the south-east.
He also slashed by £1,000 the amount paid by businesses with rateable values up to £50,000, and halved rates for retailers opening in vacant properties.
Some 17% of all holiday lets registered for business rates in England are in Cornwall, and 97% of those have rateable values of £12,000 or below, and so are potentially eligible for rate relief.
Those facing higher bills will include large supermarkets with rateable values up by 40%.
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