Re-evaluating Rates

The_Hurricane

Hi All,

Has anyone had any success in getting their annual housing rates re-evaluated? The reason why I ask is because my own rates are astronomical and are based on my house being valued at four times what I paid for it.

Thanks

saverbuyer

Are you saying you bought for 25% of your rateable value!!!

So you bought for say 50k and the rates value is 200k for example.


I find that hard to believe. What are your neighbours rate values like?

MercenaryMan

The_Hurricane wrote: »

my own rates are astronomical and are based on my house being valued at four times what I paid for it.

I'm no expert, but my tuppence...

Rateable value (as far as I can tell) just means "estate agent guess in 2004/5." I would look at the valuation relative to other properties in the same council area - the council will be looking to meet its revenue targets regardless of house prices. If your part of town has slumped you may be able to reduce your rates bill but note that canny buyers will use this number as a bargaining chip if you resell.

Old_Git

I owned a house with a rateable value off £170,000 .I sold it for £83,000 .But at the boom peak it would have sold for over £300,000 .
Anyone who bought at £300,000 didn't complain they where only paying rates for a house worth £170,000 .I viewed a repo house in January and one off the things that put me off it was the rateable value .

Old thread on the same subject

FUNKYDADDIO

Had mine reassessed last year, got a phone call one day out of the blue to say they would remain the same, they had come out and assessed without telling me..

The_Hurricane

FUNKYDADDIO wrote: »

Had mine reassessed last year, got a phone call one day out of the blue to say they would remain the same, they had come out and assessed without telling me..

How did you get them re-assessed?

saverbuyer

The_Hurricane wrote: »

How did you get them re-assessed?

It's impossible to get them reassessed to current value. All rate values are based on a 2005 valuation. Unless you can prove that the house would have been worth less in Jan 2005 you are going to get nowhere. If similar properties in your area have the same value, you will get nowhere.

It doesn't matter what the value is now because every other house would have dropped. The amount of rates that needs to be paid by everyone remains the same.

Your share of the total will remain the same.

Tesco_Tom

Need to look at where the valuation is relative to your neighbour's 'similar' house.

If you feel your valuation is too high compared to similar property in your street, then you need to complete an appeals form.

http://www.nidirect.gov.uk/index/information-and-services/property-and-housing/rates/valuation-of-domestic-properties-for-rates/appealing-your-domestic-valuation.htm

Just a word of warning. It can put the valuation up !!!

The_Hurricane

With the discount applied my rates are £711 p/a - I suppose when I call up to pay there would be no chance of getting the £11 knocked off?

giplet

I got mine reassessed and lowered and our rates (and those of all identical houses in our street). Not by much, and not as much as I think it should have been but it was all I could get them to shift!

Old_Git

The_Hurricane wrote: »

With the discount applied my rates are £711 p/a - I suppose when I call up to pay there would be no chance of getting the £11 knocked off?

£711 is not bad ,but to get a bigger discount become a landlord and get 7.5% discount .;)