Important for those ratepayers whose property is assessed on the Contractors’ Basis method of rating valuation (e.g. healthcare, education, defence, large industrial works, breweries) the Government has confirmed that in respect of the 2023 revaluation the decapitalisation rates are to remain as currently set.
The current decapitalisation rates were set in 2016 by The Non-Domestic Rating (Miscellaneous Provisions) (No. 2) Regulations 1989 (Amendment) (England) Regulations 2016 SI 2016 No. 777. The rates are 2.6% for education, healthcare and defence properties and 4.4% for all other properties valued on the Contractors’ Basis.
Business Rates Revaluation 2023: the decapitalisation rates
