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Estates Management record 2012/13 - Rateable valueRateableValue

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Estates Management record 2012/13

Fields required from institutions in Northern Ireland

Rateable value


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Typeentity
Short nameRateableValue
Description

The fields in this entity contain data about the rateable value of space.

Applicable toEngland Northern Ireland Scotland Wales
Coverage

All higher education institutions (HEIs).

Notes

The current rateable value of all occupied space, excluding any commercial space, held at the end of the relevant year.

Residential space is subject to rates in Northern Ireland, therefore higher education institutions in Northern Ireland should exclude Rateable value and Rates paid from their return on residential space.

Include:

  • rateable value of vacant space,
  • the effects of any rating appeals determined before the end of the financial year but ignore outstanding appeals.

Exclude rateable value on space let out to sub-tenants if the tenant pays the rates.

Residential properties do not attract rates (unless used for lettings for more than 140 days/year) and therefore typically have no rateable value.

Note: Rateable values are very important in the preparation of Key Estate Ratios since these are the only consistently available data item to use as a proxy for rent or for use of capital. Its chief advantage is that numbers are available across all property types (excluding residential) and for both freehold and leasehold tenures.

Mandatory for
Quality rules
Quality rules relating to this entity are displayed here.
Reason required
Part of
Minimum occurrences0
Maximum occurrencesunbounded
Schema components
Element: RateableValue
Has parts
OwnerHESA
Version1.1
Date modified2013-08-30
Change management notesAdditional guidance added to the Notes section, clarifying that HEIs in Northern Ireland should exclude Rateable value and Rates paid from their return on residential space.

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