To ask the Secretary of State for Communities and Local Government pursuant to the answer to the hon. Member for Meriden of 16 December 2009, Official Report, column 1298W, on non-domestic rates, what the (a) postcode and (b) percentage change in rateable value was in respect of each of the hereditaments included in the answer.
The following table gives the 50 hereditaments in Greater London, with their post codes, which showed, as at
The figures in the table are based on those in the Department's 2009 consultation document entitled: "The Transitional Arrangements for the Non-Domestic Rating Revaluation 2010 in England". A copy of this can be found at:
|Rank||Percentage change in rateable value||Percentage change in bill as a result of revaluation after transitional relief( 1)||Postcode|
|(1) The percentage change in rate bills will not be the same as the percentage change in rateable value. The Government's £2 billion relief scheme will cap increases in 2010-11 rate bills as a result of revaluation at no more than 11 per cent. and just 3.5 per cent. for small hereditaments.|
The table includes mainly one-off cases where there are specific factual reasons for changes in rateable value well outside of the norm. In some cases the publication of draft valuations has brought forward new information and valuations-either 2005, 2010 or both-have been amended accordingly. Otherwise reasons for change relate to the unique circumstances of individual valuations; examples include removal of temporary reductions in rateable value or changes in domestic elements.
The five-yearly business rates revaluations make sure each business pays its fair contribution and no more by ensuring that the share of the national rates bill paid by any one business reflects changes over time in the value of its property relative to others. The 2010 revaluation will not raise a single extra penny for Government.
Over a million properties will see their business rate liabilities come down as a result of revaluation. The Government have put in place a £2 billion relief scheme to limit the impact on the minority with bill increases, which in 2010-11 will ensure no business property sees its rates bill increase by more than 11 per cent. as a result of the revaluation, with maximum increases capped at just 3.5 per cent. for small properties. That is on top of the wider support available to help ease business pressures including discounted rate bills for small businesses and deferring tax payments.