单词 | ratable value |
释义 | ratable value The value placed on buildings in the UK for purposes of local taxation. Ratable values were originally supposed to be estimates of the rent which would be paid on a property, but over time have come to bear little relation to this. Ratable values are still used for the business rate and as a basis for domestic water rates, but have been replaced and are not used as a basis for the Council Tax. |
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