Property values normally change a good deal between each revaluation. Transitional arrangements help to phase in the effects of these changes by limiting the amount by which a bill may rise following a revaluation. To help pay for the limits on increases in bills after a revaluation, there also have to be limits on reductions in bills. Under the transition scheme, limits continue to apply to yearly increases and decreases until the full amount is due (rateable value times the multiplier).
The scheme applies only to the bill based on a property at the time of the revaluation. If there are any changes to the property after the revaluation date, transitional arrangements will not normally apply to the part of a bill that applies to any increase in rateable value due to those change
Transitional arrangements covering the period from 1 April 2010 to 31 March 2015 are shown below. The scheme will cap increases to rates over a five-year period and will be funded by capping reductions in other rate bills. The starting point of the scheme will be based on the amount of rate liability for each non-domestic assessment.
Cap levels 2010 - 2015
Cap levels 2010 - 2015 Year | Upward Caps: Large RV £18,000 & above | Upward Caps: Small RV Less than £18,000 | Downward Caps: Large RV £18,000 & above | Downward Caps: Small RV Less than £18,000 |
2010-11 | 12.5% | 5% | 4.6% | 20% |
2011-12 | 17.5% | 7.5% | 6.7% | 30% |
2012-13 | 20% | 10% | 7% | 35% |
2013-14 | 25% | 15% | 13% | 55% |
2014-15 | 25% | 15% | 13% | 55% |
Business rates revaluation
Small properties are defined as properties with a rateable value of under £18,000. If you would like more information, you can contact the Business Rates Team using the details in the Contacts below.
Non Domestic Rates
Revenues and Benefits
PO Box 1257
Lincoln
Lincolnshire
LN5 5PQ
Tel: 01522 873342
Email: revenues@lincoln.gov.uk
Sleaford Office Opening Hours
09:00-17:00 Monday -Thursday
09:00-16:30 Friday