Business Rates are similar to Council Tax, but they are paid on commercial property, such as factories, offices and shops.
They are used to pay for council services, the same as Council Tax.
The amount of Business Rates you pay depends on:
- the rateable value of the property. This is the market rent that the property would be expected to command
- the rating multiplier. This is an amount set by central Government
The rateable value multiplied by the rating multiplier equals the amount of Business Rates you pay.
Some reductions and exemptions apply.