The Re-Valuation of all rated premises in England is carried out every five years by the Valuation Office Agency (VOA). The next Re-Valuation takes effect on 1 April 2010.
The VOA have published the draft 2010 rateable values on their website at www.voa.gov.uk/2010 . A copy of the draft rating list is available to view at the South Holland District Council Offices.
During October, the VOA will be sending ratepayers a paper copy of their summary valuation.
Further advice and guidance is available on the Valuation Office Agency (VOA) website and the business link website.
Address: Valuation Office Agency, Queensgate House, 12 Silver Street, LINCOLN LN2 1EW.
2010 Revaluation - revised rateable value thresholds from 1 April 2010
As part of the 2010 revaluation, the following rateable value thresholds will be increased with effect from 1 April 2010:
Small business rate relief scheme
Eligible ratepayers with a rateable value of £5,000 or below currently receive 50% relief. This threshold will be increased to £6,000.
Eligible ratepayers with a rateable value between £5,001 and £10,000 currently receive relief on a sliding scale. The £10,000 threshold will be increased to £12,000. Therefore, for properties with rateable values between £6,001 and £12,000, relief will be available on a sliding scale from 50% to 0%, where every £120 rateable value equates to 1%.
Additional properties with a rateable value up to £2,199 are currently disregarded in considering entitlement to small business rate relief. This threshold will increase to £2,599.
Rural rate relief
The current rateable value threshold of £7,000 for a sole shop, general store or post office will increase to £8,500.
The current rateable value threshold of £10,500 for a sole petrol filling station or pub will increase to £12,500.
The current threshold of £14,000 for discretionary relief will increase to £16,500.
Stud farms
The current rateable value disregard for stud farms (implemented by the VOA) will increase from £3,500 to £4,200.
