Rateable Value
Every five years, the Valuation Officer is legally required to re-value all rateable properties to ensure that the rateable values keep in line with current market conditions. The rateable value is based on an estimate of the rent that the property could normally expect to fetch on the open market on a fixed date. This date is known as the Antecedent Valuation Date and is shown below for each List.
| Last Date Effective |
Date of List |
Date of List Antecedent |
| 1990 |
1st April 1990 |
1st April 1988 |
| 1995 |
1st April 1995 |
1st April 1993 |
| 2000 |
1st April 2000 |
1st April 1998 |
| 2005 |
1st April 2005 |
1st April 2003 |
| 2010 |
1st April 2010 |
1st April 2008 |
The Valuation Officer (Inland Revenue) compiled the Rating List which took effect from the 1st April 1990. The current List (2010 List) came into effect on 1st April 2010. To find out the rateable value of a property go to The Valuation Website.
The Rates Bill
Your rates bill is calculated by multiplying the rateable value of your property by the national multiplier. This calculation will be shown on your annual bill. If you receive an amended bill, it will show a "reason for bill" which should explain why it has been issued.
Rating Multiplier
The national non-domestic rating multiplier is the rate in the pound by which the rateable value is multiplied to produce the annual rate bill for a property. It is set annually by the government and except in a revaluation year cannot by law rise by more than the amount of the increase in the retail price index.
Transitional Arrangements
A transitional phasing scheme has been introduced to limit significant increases/decreases in rateable value. This scheme is intended to operate for the full five years of the valuation period. Each year the previous years rates bill will be compared with the current years and if applicable, phasing will limit the increase or decrease. Large changes to the rateable value, may take several years before the actual liability replaces the phased bill, and in a few cases phasing may even continue into a new valuation period.
Contact Us
Revenues
West Somerset House
Killick Way
Williton
Taunton
Somerset
TA4 4QA
Telephone: 01643 703704
Email: revenues@westsomerset.gov.uk