Valuation - frequently asked questions
- How are rateable values generated?
- What if I can't afford to pay the rateable value?
- My Business doesn't make as much as my neighbours. Must I pay the same rates?
- Will I be informed of my rateable value?
- Where can I check on the rateable values of other properties?
- Should I inform the Assessor about any alterations to the property?
How are rateable values generated?
The Assessor has a statutory right to collect information from owners and occupiers relating to property values such as building costs, sale prices, rents etc. This information is analysed by professional staff who set the values based on this information.
What if I can't afford to pay the rateable value?
The Rateable Value is not the figure which you pay. Your bill is calculated by your local authority who multiply the Rateable Value by a figure called the Rate in the Pound which is set each year by the Scottish Parliament. Your local authority will also apply any relief's to which you may be entitled. At the present time, most rates bills are considerably lower than the figure of Rateable Value.
My Business doesn't make as much as my neighbours. Must I pay the same rates?
The present system is a tax on the value of your property and not on the business which is carried on within it. Two shops of identical size and location would therefore pay the same in rates regardless of the profitability of the respective businesses.
Will I be informed of my rateable value?
The Assessor is required to officially notify all proprietors, tenants and occupiers of their new Rateable Value following a General Revaluation by issuing a Valuation Notice. A Valuation Notice is also sent to inform you of any changes made, for example, if you carry out alterations to your property.
Where can I check on the rateable values of other properties?
The Rateable Values of all non-domestic properties in Lothian are contained in the Valuation Roll which can be inspected in the Assessor's Office, or online, via the Scottish Assessors Portal Website.
Should I inform the Assessor about any alterations to the property?
This is advisable, as it may be that your Rateable Value will be reduced if, for example, you reduce the size of your property by demolition or, in certain cases, by letting out any part of it.