Non Domestic Rates or Business Rates is a tax on all business and non-domestic properties, which are not used for domestic purposes, like shops. factories, offices, beach huts and moorings.
A company or a person who occupies all or part of a non-domestic property is liable to pay Business Rates on this property.
Each non-domestic property has a rateable value. This is set by the Valuation Office Agency and not the Isle of Wight Council.
The money collected is paid into a central pool and the Government then gives each Council a share of this money. This money is then used to help to pay for the service that the Council provides.
See Discounts and Exemptions page.2010 REVALUATIONEvery 5 years all non-domestic properties are subject to a revaluation. The current rating list is based on the 2010 revaluation. Transitional arrangements are in place during this 5-year period so that the effects of any large increase or decrease in Business Rates are phased in.
Transitional arrangements are applied automatically and are shown on the front of the bill.
More information on the 2010 Revaluation can be found at
www.voa.gov.ukThe Valuation Office Agency’s website allows you to: