Business rateable value - how your bill is calculated

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COVID-19 rates in Stockton-on-Tees are very high so the Government has named it, along with the rest of the North East, an Enhanced Response Area. Find out more on our Enhanced Response Area page.

For general Coronavirus information including disruptions to Council services or how to book a COVID-19 test visit www.stockton.gov.uk/coronavirus.

We work out business rates bill by multiplying the rateable value of the non-domestic property by an appropriate multiplier. 


Rateable Value

Apart from properties that are exempt from Business Rates, each non-domestic property has a rateable value which is set by the valuation officers of the Valuation Office Agency (VOA) - an agency of Her Majesty's Revenue and Customs. They draw up and maintain a full list of all rateable values. These are available on their website.

The rateable value broadly represents the yearly rent the property could have been let for on the open market on a particular date.

If you have any queries regarding your Rateable Value or you wish to appeal against the value placed on your property you should contact the Valuation Office direct.

Remember - you must pay the instalments shown on your bill until any appeal has been decided and a revised bill issued. Any overpayment will be refunded to you.

 

National Non-Domestic Rating Multiplier

There are two multipliers; the standard non-domestic rating multiplier and the small business non-domestic rating multiplier.

The local authority works out the business rates bill by multiplying the rateable value of the property by the appropriate multiplier.

  1. The standard multiplier for 2021/22 is 51.2p
  2. The small business multiplier for 2021/22 is 49.9p

The multiplier is set by Central Government and normally changes every year in line with inflation. 

 

Transitional Arrangements

All rateable values are reassessed at a general revaluation. The last revaluation came into effect from 1st April 2017. Property values normally change a good deal and transitional arrangements help to phase in the effects of those changes by limiting the increases in bills. To help pay for this there also have to be limits on reductions in bills.

Under the transition scheme, limits continue to apply to yearly increases and decreases until the full amount payable is due (rateable value times the appropriate multiplier).

Any transition is automatically calculated by Stockton Council and will be shown on your bill.

Further information about transitional arrangements may be obtained from the Revenues and Benefits Service or the GOV.UK Business Rates webpage.