Every non domestic property in England & Wales is set a rateable value by the Valuation Office. The rates you pay are directly linked to your rateable value and is calculated using the current financial years multiplier.
What are the multipliers? Please use the following link to find out more: https://hammerproperties.wordpress.com/2013/12/09/hammer-properties-what-are-the-multipliers/
The rateable value of your property represents the figure the the Valuation Office would expect the property to let for on the open market at the given date.
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