One of the mysteries of the English language finally explained.
(in the UK) a value ascribed to a domestic or commercial building based on its size, location, and other factors, used to determine the rates payable by its owner.
- ‘If it were installed in the Tate Modern, the building would probably be worth more than the rateable value of Coney Street.’
- ‘And instead of paying a flat fee of £15 the clubs now face charges based on their rateable values.’
- ‘Where she was not right was in justifying the higher rate poundage on lower rateable values in Scotland.’
- ‘It works out subscription fees for 30,000 UK pubs and clubs based on their rateable value.’
- ‘Existing rateable values - a gauge of rental values - are based on a snapshot of the economy in 1993.’
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