All non-domestic properties have a rateable value. This value is based on the annual rent the property could have been let for on the open market on a particular date. For the current rating list this date was set as 1st April 2003. Your business rates bill is calculated by multiplying the rateable value of your property by a figure set by central government. This figure is known as the multiplier. In 2008-09 the multiplier is 46.2. So, if the rateable value of your property is £10,000, we would multiply it by 46.2p to get a total rates bill of £4,620.
You may also qualify for a reduction - for example if you are a small business or a charity. We will then adjust this calculation to include the reduction.