Rateable value

All non-domestic property is revalued every 5 years. From 1 April 2005, the rateable value of a property represents its annual open market rental value as at 1 April 2003. Thus all non-domestic property in Wales is being re-valued as at 1 April 2008 for the purposes of the local non-domestic rating list which is effective from 1 April 2010. The draft list must be sent to the billing authority by 1 October 2009 and will shortly thereafter be available for inspection at the authority’s offices. More information is available at the local valuation office or the website. Please follow the link below.

For composite properties which are partly domestic and partly 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 Assembly 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.