VOA faces flood of rates appeals around the UK
VOA faces flood of rates appeals around the UK
- 2003
- Estates Gazette (0307) 15 February 2003, 32(1) .
Up to 200 000 properties could find their rateable value reduced if the Valuation Office Agency (VOA) considers recent flooding constitutes a material change in circumstances. This would lead to a flood of business rates and council tax appeals from homes and businesses in areas at high risk of flooding. According to current legislation the tenant is responsible for all outgoings on a property including insurance: the high rates of insurance at present mean that achievable rents and property values could be reduced and consequently affect the council tax banding of the property. The VOA is currently recruiting for rating surveyors and support staff in time for the council tax revaluation in 2007 and the business rate revaluation in 2005.
FLOOD RISK AREAS
BUSINESS RATES
COUNCIL TAX APPEALS
RATEABLE VALUE
RATING VALUATION
INSURANCE COSTS
Up to 200 000 properties could find their rateable value reduced if the Valuation Office Agency (VOA) considers recent flooding constitutes a material change in circumstances. This would lead to a flood of business rates and council tax appeals from homes and businesses in areas at high risk of flooding. According to current legislation the tenant is responsible for all outgoings on a property including insurance: the high rates of insurance at present mean that achievable rents and property values could be reduced and consequently affect the council tax banding of the property. The VOA is currently recruiting for rating surveyors and support staff in time for the council tax revaluation in 2007 and the business rate revaluation in 2005.
FLOOD RISK AREAS
BUSINESS RATES
COUNCIL TAX APPEALS
RATEABLE VALUE
RATING VALUATION
INSURANCE COSTS