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Rateable Values and Transitional ArrangementsRateable Value The Rateable Value of non-domestic property is fixed, in most cases, by an independent Valuation Officer of the Valuation Office Agency. All non-domestic property is revalued every five years. From 1st April 2005, the rateable value of a property represents its annual open market rental value as at 1st April 2003. The values of all property in respect of which rates are payable are shown in the local rating list, a copy of which may be inspected at the Valuation Office, Union House, Eridge Road, Tunbridge Wells, Kent TN4 8HF (Tel: 01892 796700, Fax: 01892 796799) or on the Valuation Office Agency website. The Valuation Officer may alter the value if he believes that the circumstances of the property have changed. The ratepayer (and certain others who have an interest in the property) may also in certain circumstances propose a change in value. If in any case the ratepayer and the Valuation Officer do not agree, the matter will be referred as an appeal to a Valuation Tribunal. Information about the circumstances in which a change in a rateable value may be proposed and how such a proposal may be made may be obtained from the Valuation Officer. Transitional Arrangements Transitional arrangements will phase the effect of significant changes in liability which arise from the 2005 revaluation of non-domestic property. Where appropriate, these arrangements will operate until March 2010 (when all non-domestic property will be revalued again). There are limits on the percentage by which bills may increase or decrease each year. Special rules deal with changes in Rateable Value and the merger or splitting of existing properties. Further information about Transitional Arrangements may be obtained from Rother District Council or on the Department for Communities and Local Government Website. |
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