Non-Domestic Rates (business rates) calculation
Calculation
- Business Rates = Rateable value x Appropriate Multiplier for property
- Less transitional phasing – this is automatically applied where applicable
- Calculated on a daily basis.
- Discounts and exemptions can be found on our website
Rateable Value
You will find the rateable value on the front of your Business Rates bill/demand.
- Assessment by the VOA: The Valuation Office Agency (VOA) assesses the rateable value of non-domestic properties and publishes these on their website. This value stands for the yearly rent on the open market at a specified date.
- Maintenance: The VOA keeps and updates the listing. They may alter the value if the property circumstances change.
- Revaluation: The VOA periodically revalue properties to reflect changes in the property market. The next revaluation is scheduled for April 2026.
- Appeals: Property owners can appeal the rateable value if they believe it is incorrect.
Information on how to appeal is available on the VOA website or from local valuation offices.
Multipliers
- Set annually by the government
- Current and recent years are shown below
|
Type |
Description |
Multiplier |
|---|---|---|
|
Small business - retail, hospitality and leisure |
Retail, hospitality and leisure properties only with a rateable value below £51,000 |
38.2p |
|
Standard - retail, hospitality and leisure |
Retail, hospitality and leisure properties only with a rateable value between £51,000 and £499,999 |
43.0p |
|
Small Business mulitplier |
Properties that aren't retail, hospitality or leisure with a rateable value below £51,000 |
43.2p |
|
Standard multiplier |
Properties that aren't retail, hospitality or leisure with a rateable value between £51,000 and £499,999 |
48.0p |
|
High Value multiplier |
All properties with a rateable value of £500,000 and above |
50.8p |
|
Type |
Description |
Multiplier |
|---|---|---|
|
Small Business Multiplier |
All properties with a rateable value below £51,000 |
49.9p |
|
Standard Rating Muliplier |
All properties with a rateable value of £51,000 and above |
55.5p |
Contact business rates team:
Email: revenues@lincoln.gov.uk
Post: PO Box 1257, Lincoln, LN5 5PQ
Phone: 01522 873342