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2010 INCREASES - CONFUSION ABOUNDS
30 November 2009
Average rateable values nationwide are expected to increase by around 15% as a result of the 2010 Revaluation, though uncertainty abounds.
In April 2010 a new Rating List will be introduced and draft 2010 rateable value figures published in October are hitting desks now. There is much confusion as to the amount of rates businesses will actually pay, with some sectors and areas of the country expecting to see huge hikes. The new rateable values are based on rental values at 1st April 2008, shortly before many rents dropped dramatically due to the recession.
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