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Transitional Relief & Revaluation 2005
Every five years the valuation office agency gives all non-domestic properties new rateable values.A recent revaluation has taken effect from 1 April 2005 and the new values broadly reflect the yearly open-market rental value of each property at the antecedent valuation date of 1 April 2003.
In order to off set large increases and decreases in rates bills as a result of the 2005 revaluation, increases will be limited to the following percentages plus inflation.
|
Year |
Small properties less than £15,000 RV |
Large properties £15,000 & higher |
|---|---|---|
|
2005/2006 |
5% |
12.5% |
|
2006/2007 |
7.5% |
17.5% |
|
2007/2008 |
10% |
20% |
|
2008/2009 |
15% |
25% |
and decreases less inflation
|
Year |
Small properties less than £15,000 RV |
Large properties £15,000 & higher |
|---|---|---|
|
2005/2006 |
30% |
12.5% |
|
2006/2007 |
30% |
12.5% |
|
2007/2008 |
35% |
14% |
|
2008/2009 |
60% |
25% |
In 2009/2010 no transitional arrangements will apply.
