Rateable values

The rateable value of a property is set by the Valuation Office Agency, which is part of HM Revenue & Customs

Rateable values are based on:

  • the rental value that a well maintained property would attract
  • the floor area of the building
  • the usage of the building
  • the location of the building

Check the rateable value of a property in Poole

How Business Rates are calculated

Each year the Government sets two multipliers. The small business rate multiplier is for all those qualifying for small business rate relief or who have a rateable value less than £51,000. The larger multiplier is applied to properties with a rateable value of greater than £51,000. 

For 2018/19

The small business rate multiplier is £0.480. 

The larger multiplier of £0.493.

For example, if your rateable value is £20,000 then your rates payable would be £9,600. (20,000 x 0.480 = 9,600) Any other eligible reliefs or exemptions can then be applied.

For 2019/20 

The small business rate multiplier is £0.491. 

The larger multiplier of £0.504.

For 2020/21

The small business rate multiplier is £0.499. 

The larger multiplier of £0.512.

Which agency does what?

  • the Valuation Office Agency determines the rateable value on which your rates are based
  • the Government sets the multiplier and makes national rules about business rates
  • the council are responsible for billing and collecting business rates
Page last updated: 09 March 2020
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