PRESTON TAIT - 2000 RE-VALUATION
APPEAL BY PRESTON TAIT

We are equipped to handle rating appeals of Commercial and Industrial Property throughout the entire U.K., covering both the Scottish system and the system in England and Wales.

We will handle the whole process from intimating appeal to an appearance before the Local Valuation Committee/Court and Lands Tribunal if necessary.

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THE YEAR 2000 REVALUATION

This years revaluation is designed to keep the Valuation Roll or Valuation List (England and Wales) updated for inflation. The revaluation is carried out every five years.


RATEABLE VALUE.

The majority of commercial properties are allotted a rateable value.

The rateable value of non domestic properties shall be taken to be the amount equal to the rent at which it is estimated the property might be expected to let from year to year if the tenant undertook to pay all usual rates and taxes and to bear the cost of repairs and insurance necessary to maintain the property in a state to command that rent and as if negotiated on 1st April 1998 for the 2000 revaluation.

Most properties are therefore valued by a rate per square foot. For shops the rate will be highest in the front shop. For factories and warehouses the rate will be even throughout. Rates will vary according to construction, age , and size.


UNIFORM BUSINESS RATE

To help counteract the rise in rateable values the rate in the pound is to be dropped from 48.9 pence per pound to 41.6 pence in England, 45.8 pence in Scotland and 41.2 pence in Wales.