Public Houses: Rural Areas
The question
To ask the Chancellor of the Exchequer, whether the Valuation Office Agency plans to amend rateable values for rural pubs in the context of proposed changes to drink driving thresholds.
Answered by Dan Tomlinson
Rateable values represent the annual rent a property could reasonably have been expected to achieve at the Antecedent Valuation Date (AVD), reflecting market evidence at that point in time. For the current 2023 rateable values the AVD is 1 April 2021, and for the 2026 revaluation, it is 1 April 2024.
The Government will launch a review on how pubs are valued for business rates.
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