Statutory formulae for rating valuation
Premises of certain public utility undertakings such as the electricity suppliers, British Gas, British Rail Board, Network Rail (ex-Railtrack) and water authorities may be valued by formula prescribed by statute. ‘Non-operational’ premises, eg electricity and gas showrooms and offices not on operational land, are rateable in the usual way. Dwelling houses are deemed to be excluded from the value arrived at by the formula.
Where a statutory formula is provided, no other method may be used.
The Government has made it clear that it intends to value all such properties by conventional methods of rating valuation as soon as practicable, and has already removed the use of a statutory formula from the hereditaments of British Waterways, British Telecom, Docklands Light Railway and many others. It is the Government’s intention that all formula-rated properties will be conventionally valued, and the current plans are for this to be completed by 2005. As at the date of writing (June 2005), this process is continuing.
This article was created by --University College of Estate Management (UCEM) 17:09, 6 December 2012 (UTC)
[edit] Related articles on Designing Buildings Wiki
Featured articles and news
Unlocking surplus public defence land and more to speed up the delivery of housing.
The Planning and Infrastructure bill oulined
With reactions from IHBC and others on its potential impacts.
Farnborough College Unveils its Half-house for Sustainable Construction Training.
Spring Statement 2025 with reactions from industry
Confirming previously announced funding, and welfare changes amid adjusted growth forecast.
Scottish Government responds to Grenfell report
As fund for unsafe cladding assessments is launched.
CLC and BSR process map for HRB approvals
One of the initial outputs of their weekly BSR meetings.
Architects Academy at an insulation manufacturing facility
Programme of technical engagement for aspiring designers.
Building Safety Levy technical consultation response
Details of the planned levy now due in 2026.
Great British Energy install solar on school and NHS sites
200 schools and 200 NHS sites to get solar systems, as first project of the newly formed government initiative.
600 million for 60,000 more skilled construction workers
Announced by Treasury ahead of the Spring Statement.
The restoration of the novelist’s birthplace in Eastwood.
Life Critical Fire Safety External Wall System LCFS EWS
Breaking down what is meant by this now often used term.
PAC report on the Remediation of Dangerous Cladding
Recommendations on workforce, transparency, support, insurance, funding, fraud and mismanagement.
New towns, expanded settlements and housing delivery
Modular inquiry asks if new towns and expanded settlements are an effective means of delivering housing.
Building Engineering Business Survey Q1 2025
Survey shows growth remains flat as skill shortages and volatile pricing persist.
Construction contract awards remain buoyant
Infrastructure up but residential struggles.
Warm Homes Plan and existing energy bill support policies
Breaking down what existing policies are and what they do.
A dynamic brand built for impact stitched into BSRIA’s building fabric.