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Commercial Rateable Value Estimation

Hi,

In my business (West Surrey) we last year paid business rates on a rateable value assessed at 28,750, at the rate of 45.6 pence in the pound: ie an annual bill of over 13k.

I have just received a "Notice of Alteration" telling me we have been reassessed as having a ratable value of 48,250. This represents an increase of virtually 70%. Suffice to say I am unimpressed, especially since nobody has ever visited us to inspect the premises which I would have thought is an absolute pre-requisite for an objective assessment

I am now going to embark on the (no doubt painful) process if appealing

Can anybody give me any idea as to how the "rateable value" of a property is derived?

David

[ps I'd also be interested to know if there is a more appropriate newsgroup for this query]
Reply to
vortex2
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In article , vortex2 writes

Business rateable value is based on the estimated market rent for a property. The actual payment is determined after adjustment to as national 'modifier' - currently 45.6p.

It is re-estimated every five years to take account of changes in market rents, condition of property, etc. A general revaluation has just taken place.

The Valuation Office [VOA], which carries out the operation, bases its information on past records [if your property has not been altered], letting and sales brochures and information from local authorities.

You can appeal: in fact, most businesses do so, causing huge delays. That is why the VOA has published estimates online for every property for the first time, in the hope that any mistakes can be rectified before the changes take effect next April. Consult a qualified rating surveyor if you believe the estimate is wrong because of factors such as use, floor areas, etc. Watch out for cowboys who offer to take the matter to appeal for a fee. Anyone can do that for nothing.

More details here:

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and here:

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Reply to
news

The above is good advice.

Surveyors often work on a percentage of the first year's saving in rates.

Often, this percentage is negotiable. Be sure to get quotes from a few reputable local surveyors and press them to reduce their cut. This service is sometimes offered by commercial property agents.

And, never pay a penny up front. It is best if they get paid when the VOA write to you with details of the successful appeal.

I understand your predicament. We renovated our business premises a couple of years ago (new roof, car park, etc). Our reward is a 34% increase in rateable value for 2005, which will cost us 10,000 a year on the rates. We will appeal our rateable value, too.

I believe you can appeal the RV yourself, but I don't know how well that works if you have no-one to represent your interests. Anyone out there know?

Reply to
A *********

Thanks for the advice and the links, David.

Actually I spoke with a surveryor today and it does seem we may have grounds for an appeal, but to be honest it looks as if we've been undercharged for a long time.

It would also appear that we are liable to pay the new figure immediately and that the outcome of any appeal could be a long time off.

Guilty until proven innocent I suppose.

D
Reply to
vortex2

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