Explanatory note

This Order fixes the amount of the regional rate for the year ending 31st March 2016. It fixes 31.86 pence in the pound as the amount of the regional rate to be levied on the rateable net annual values of hereditaments (“non-domestic regional rate”) and 0.4042 pence in the pound as the amount of the regional rate to be levied on the rateable capital values of hereditaments (“domestic regional rate”). This applies an increase of 1.4 per cent. after the effects of the non-domestic revaluation exercise are taken into account. The non-domestic revaluation will come into operation on 1st April 2015.

Hereditaments which are dwelling-houses, private garages and private storage premises have a rateable capital value. Hereditaments which are used partly for the purposes of a private dwelling have a rateable capital value and a rateable net annual value. All other hereditaments have a rateable net annual value.