Business Rates

The Non Domestic Rating system was introduced in 1990 and replaced the rating system when the rates were set locally by each Council. Since 1990 the Government has set a rate in the pound which is known as the "multiplier" and this is multiplied by the rateable value of the property to give the gross amount of rates payable for the property.

A revaluation of all non-domestic properties was undertaken by the Valuation Office Agency on 1 April 1995, 1 April 2000, 1 April 2005 and 1 April 2010.

The income from non-domestic rates is collected by the Borough on behalf of the Government and then paid into a central government pool. The income is then redistributed between all local authorities on a per capita basis.

Non Domestic Rates are payable by the occupier on shops, offices, warehouses and factories. Farm land and buildings, churches, and other types of property are not rated and are therefore classified as exempt.

If the property is not exempt, all commercial properties have a rateable value and the value as at 1 April 2010 will be equivalent to the annual rent that the property could have been let for on the open market with in 2008.

Page updated: 25 Oct 2011