How are offices valued to determine their Rateable Value?
Offices are valued on a rentals basis; what the property would let for at the antecedent valuation date (AVD). The AVD for the 2017 Rating List is 1 April 2015.
The Valuation puts similar properties in valuation schemes based on a price per meter square.
This price can be influenced by the presence of air conditioning, comfort cooling and raised floors and whether or not the property has an lift. The presence of car parking will also have an effect on the Rateable Value, but this will often be the subject of a separate assessment – especially where the accommodation is shared.