How your bill is worked out
Your bill is worked out by multiplying the rateable value by the rating multiplier.
Your property will be given a rateable value, which is worked out by its rental value. The rateable value is set by the Valuation Office Agency and you can check your rateable value on the Valuation Office Agency website.
If your enquiry is about the valuation given to your property, you need to contact the Valuation Office Agency:
Non-domestic Rates South East Valuation
St Annes House
2 St Annes Road
The rating multiplier is the rate charged for every £1 of rateable value. The multiplier is set by central government and depending on inflation can change each year. There are 2 rating multipliers the standard multiplier and one for small businesses which have a rateable value under £51,000.
The multiplier for 2019/20 is 51.2 pence and the small business rates multiplier is 49.9 pence.
|Small business multiplier||49.9||49.1||48.0||46.6|
A full guide to how you can appeal against your rateable value is available under our useful links.
What are business rates
Non-domestic rates, or business rates, collected by local authorities are the way that those who occupy non-domestic property contribute towards the cost of local services.
Under the business rates retention arrangements introduced from 1st April 2013, authorities keep a proportion of the business rates paid locally.
This provides a direct financial incentive for authorities to work with local businesses to create a favourable local environment for growth since authorities will benefit from growth in business rates revenues. The money, together with revenue from Council Tax payers, revenue support grant provided by the government and certain other sums, is used to pay for the services provided by Tunbridge Wells Borough Council and other local authorities in your area.
Further information about the business rates system, including transitional and other reliefs, can be found on the GOV.UK website.