Find out how domestic properties in the UK are assessed for payment of rates and how to find your individual valuation. If you need more advice about property valuations, please contact us.
Valuing your home
Valuations for domestic properties are assessed on the capital value of your property based on 1 January 2017 prices. When assessing the capital value, your property agent should use information on the sale prices of houses in the area. Click here to read the latest property news.
They also made assumptions that all properties had an average state of internal repair and fittings, such as a standard kitchen and bathroom. If you’re looking to makeover the bathroom, find suitable tiles.
The factors that are taken into consideration when valuing your property include:
- size and type of property, such as detached, terrace, semi detached or flat
- location of the property
- whether or not the property has a garage or other domestic outbuildings
- whether or not the property has central heating
Size means the external area of your property is a house and the internal area if it is an apartment.
5 ways of adding value to your property
If you’re in the market of selling your property, there are various ways of adding value which means you can ask for a higher asking price if you do some of the following:
- Add architectural features such as rooflights
- Add an extension, e.g. loft conversion or single storey
- Fix structural problems
- Replace old windows
- Makeover the most popular rooms, e.g. kitchen & bathroom
Mixed use properties
If your property has a mixed use such as a shop, which is classed as non-domestic and a flat, which is classed as domestic, each part is assessed separately for rates. The non-domestic part is assessed on the basis of its Net Annual Value and the domestic part is assessed on the basis of its capital value. See what’s available.
Farmhouses are valued exactly as other domestic properties, but there is a 20 per cent reduction, if they meet the following criteria:
- they are occupied in connection with agricultural land
- the main occupation of the person who lives in the house is farming that land