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Clarifying that water companies can continue to charge customers using rateable value where no water meter has been installed at a property. [6] Allowing consumers to request a water meter, and obliging the local water company to install a meter unless the installation is not reasonably practical or would incur an unreasonable expense. [7]
The rateable value is multiplied by the Uniform Business Rate, referred to in legislation as the non-domestic rating multiplier, to arrive at an annual bill. For example, a rateable value of £10,000 and a multiplier of 40p would produce an annual bill of £4,000. [21] [22] The bill usually requires payment in instalments over the financial ...
The rateable value should represent the reasonable rental value of the occupation according to the circumstances at the "Material Day" and according to rental values at the "Antecedent Valuation Date". (For the compiled 2005 Rating List the "Material Day" is 1 April 2005 and the "Antecedent Valuation Date" is 1 April 2003).
Other methodologies also exist, such as a charge per toilet bowl or urinal, or a water charge per cubic metre of water supplied. The Local Government (Rating) Act 2002 [ 17 ] is the governing legislation and provides a number of options for setting rates, such that local authorities can use combinations of general rates, targeted rates and/or ...
Rateable value is in effect the estimated annual rental value in the open market. It is common practice supported by decided cases to assume a hypothetical tenancy, and the rateable value is an estimated annual rent which would have been agreed between a hypothetical landlord and a hypothetical tenant, on the assumption that the property in its ...
Land that is at least 50% non-rateable is land owned or used by Agricultural and Pastoral Societies as showgrounds, sportgrounds (but not horse or greyhound racetracks) and/or land owned or used by any group for any branch of the arts. Non-rateable land is still liable to pay rates related to water supply, sewage disposal, and/or refuse collection.
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Water tariffs are differentiated between metered and un-metered customers; domestic, commercial, institutional and industrial customers; whether customers are former customers of GUYWA (outside the capital) or GS & WC (in Georgetown); and the rateable value of properties in the case of domestic customers.