How your bill is calculated

Rateable value

The rate is dependant on the rateable value of the property on a  specific date, which is currently 1 April  2015. The rateable value is based on:

• the rent on the open market (offices, shops and industrial properties)
• Fair maintainable trade (pub or licensed premises)
• Number of beds (self catering accommodation, B&Bs and hotels).

Properties are usually revalued by The Valuation Office Agency every 5 years to reflect changes in the market. The 5 year cycle was however this time extended, the 2015 revaluation being deferred by Government to 2017, with new values becoming effective from 1 April 2017. Until that time rateable values used will be as per the current list and based on a valuation date of 1 April 2008.

Revaluation 2017

The 2017/18 bills are based on the 2017 Rating List. The rateable values are based on a valuation date of 1 April 2015. If you think your rateable value is incorrect go to the gov.uk website.

Further information regarding revaluation 2017

 

National multiplier

To calculate how much rate you need to pay, the Council will multiply the rateable value of the property with the national multiplier.  The rate of the national multiplier for 2020/21 is 53.5 pence.  

Therefore, if the rateable value of the property was £10,000 the annual rate bill for the property would be £5,350.  Exemptions may apply where the property is eligible for discounts or reliefs.  The multiplier set annually by the Welsh Government, and except in a revaluation year cannot rise by more than the rate of the increase in the retail prices index.

 

 

Disagree with the rateable value?

If you believe that the ratable value set for your property is incorrect, or that your circumstances have changed, for further information:

• Website - gov.uk
• Valuation Office Agency's Briefing Note
• contact the local valuation office to explain your reasons.   

If you do not agree with the outcome of the discussions, you have the opportunity to appeal, and for a hearing by the Valuation Tribunal.

Further information can be found on the Valuation Office Agency website