Reduction Agreed:
Hammer Properties have successfully reduced the Rateable Value of a Workshop in Medway. Hammer Properties agreed a reduction from £45,000 to £42,750 with the Valuation Office. In real terms this means the following saving will apply excluding any transitional relief (*) or Small Business Rates Relief (*) given by the local authority.
Year/Rate | £45,000 | £42,750 | Saving |
2010-11 41.4% | £18,630.00 | £17,698.50 | £931.50 |
2011-12 43.3% | £19,485.00 | £18,510.75 | £974.25 |
2012-13 45.8% | £20,610.00 | £19,579.50 | £1,030.50 |
2013-14 47.1% | £21,195.00 | £20,135.25 | £1,059.75 |
2014-15 48.2% | £21,690.00 | £20,605.50 | £1,084.50 |
2015-16 (average 49.0%) | £22,050.00 | £20,947.50 | £1,102.50 |
2016-17 (average 50.0%) | £22,500.00 | £21,375.00 | £1,125.00 |
TOTAL | £146,160.00 | £138,852.00 | £7,308.00 |
This reduction has just been agreed and therefore is not listed on the VOA website as yet.
Want to see what we could do for you? Contact us using the following links:
Blog: https://hammerproperties.wordpress.com/contact-us/
Website: http://www.hammerproperties.co.uk/
Facebook: https://www.facebook.com/HammerPropertiesIlford
(*) What is Transitional Relief? See the following link: https://hammerproperties.wordpress.com/2013/12/04/what-is-transit/
(*) What is Small Business Rates Relief? See the following link: https://www.gov.uk/apply-for-business-rate-relief/small-business-rate-relief
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