The rateable value of non-domestic property is fixed in most cases by an independent valuation officer of the Valuation Office Agency.
All non-domestic property is revalued every 5 years. From 1 April 2010, the rateable value of a property represents its annual open market rental value as at 1 April 2008. More information is available from the local valuation office or the website www.voa.gov.uk
For composite properties which are partly domestic and party non-domestic the rateable value relates to the non-domestic part only. 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 Inland Revenue Valuation Office, 339 High Street, Bangor, LL57 1YA and the Finance Department. To contact the Finance Department, please follow the link via the “weblinks” tab above.
Alteration of rateable value
The rateable value may alter if the valuation officer believes that the circumstances of the property have changed. The ratepayer (and certain others who have an interest in the property) may also in certain circumstances propose a change in value. If the ratepayer and the valuation officer do not agree the valuation within 3 months of the proposal being made, the matter will be referred as an appeal to the Valuation Tribunal. Further information about how to propose a change in a rateable value is available from valuation offices.
National Non-domestic Rating Multiplier
This is the rate in the pound by which the rateable value is multiplied to gve the annual rate bill for a property. The multiplier set annually by the Welsh Ministers is the same for the whole of Wales and except in a revaluation year cannot rise by more than the rate of the increase in the retail price index.
In this section
The draft revaluation values in relation to the Rating List 2017 are now available online to be viewed.