- Project plans
- Project activities
- Legislation and standards
- Industry context
Last edited 25 May 2017
Statutory formulae for rating valuation
Premises of certain public utility undertakings such as the electricity suppliers, British Gas, British Rail Board, Network Rail (ex-Railtrack) and water authorities may be valued by formula prescribed by statute. ‘Non-operational’ premises, eg electricity and gas showrooms and offices not on operational land, are rateable in the usual way. Dwelling houses are deemed to be excluded from the value arrived at by the formula.
Where a statutory formula is provided, no other method may be used.
The Government has made it clear that it intends to value all such properties by conventional methods of rating valuation as soon as practicable, and has already removed the use of a statutory formula from the hereditaments of British Waterways, British Telecom, Docklands Light Railway and many others. It is the Government’s intention that all formula-rated properties will be conventionally valued, and the current plans are for this to be completed by 2005. As at the date of writing (June 2005), this process is continuing.
This article was created by --University College of Estate Management (UCEM) 17:09, 6 December 2012 (UTC)
 Find out more
 Related articles on Designing Buildings Wiki
Featured articles and news
Free BRE Trust publication summarises the issues faced, current regulations, standards and guidance.
New BSRIA guide provides a structured approach for identifying and achieving success criteria.
People, traffic and historic townscapes.
A remote plateau in Bulgaria has been the focus of international preservation efforts.
Dynamo packages data ready for Revit.
How does EVA rate a project's progress?
How can it benefit the built environment?
The benefits of early contractor involvement.
Why it is so important for health and wellbeing.
A highly effective method of managing supply chains.
How it can benefit construction.