Entry from British & World English dictionary
Definition of rateable value in English:
(In the UK) a value ascribed to a domestic or commercial building based on its size, location, and other factors, used to determine the rates payable by its owner.
- And instead of paying a flat fee of £15 the clubs now face charges based on their rateable values.
- Where she was not right was in justifying the higher rate poundage on lower rateable values in Scotland.
- It works out subscription fees for 30,000 UK pubs and clubs based on their rateable value.
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