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Is there a way to calculate the rateable value of property?

How can I figure out the rateable value of my property? Is it just something that matters if I'm running a business?

Asked on Sep 8 2016, Home Finance in London | Report content

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  • For a home, it only matters as the basis for water charges if you do not have a water meter.

    Answered on Sep 12 2016, Report content
  • Hello. Any property that isn't a home (i.e. a residential dwelling) has a rateable value, which estimates how much the property would have been worth on a certain date, for the purpose of charging you business rates. This date is currently April 1st, 2008, with new valuations to be carried out in 2017. Your bill is calculated by multiplying your rateable value by the 'multiplier' the government sets your property. So, if your multiplier is £0.50 and your property's value is £100,000, then you'll owe £50,000 that year. Many thanks, Dan

    Answered on Sep 12 2016, Report content

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