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Average rateable value in an area (4143) Metric type
- Help text
- This is the average non-domestic rateable value of properties (known as "hereditaments"), using a local rating list for this area. There is a single local rating list for each billing authority in England and Wales, and two central rating lists, one for England and one for Wales. The majority of rateable value is contained in local rating lists (over 95% across England and Wales). The central list is smaller and contains the rating assessments for the network property of major transport, utility and telecommunications undertakings and cross-country pipelines.
The Valuation Office Agency (VOA) is required, by the Local Government Finance Act 1988, to compile (and maintain) rating lists specifying a rateable value for all non domestic rateable properties in England and Wales. These rateable values provide the basis for national non-domestic rates bills, which are issued by local authorities.
The legal term for the notional annual rent of a rateable property assessed by the VOA. Every property has a rateable value that is based broadly on the annual rent that the property could have been let for on the open market at a particular date (this is 1 April 2015 for the 2017 lists).
- Modified
- 11 Jul 2022
- Data last updated
- 30 Jun 2022
- Short label
- Average rateable value
- Status
- Live
- Output precision
- 0
- Polarity
- a high value is good
- Measure
- £000s
- Dataset
- Central and local rating lists
- Collection
- Non-domestic rating: stock of properties
- Source
- Valuation Office Agency
- is found in the following lists
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