English: rateable value

Part of speech

Noun, Masculine, Singular

Plural

gwerthoedd ardrethol

Definition

A rateable value is an estimate of what it would cost to rent a property for a year, on a set valuation date. The property is assumed to be: vacant, in reasonable repair, available to let on the open market.

Context

When we look at the rateable values of these properties, the majority fall into the lower part of the range, with over half having a rateable value below £6,000 (Figure 3).