Question 1117409: A property is of rateable value of $ 25000. Calculate the rates at 65cents in the dollar
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! i think you would simply multiply the rateable value by the multiplier, which is 65 cents to the dollar.
25000 * .65 = 16250.
note that this multiplier looks very much like a busineess multiplier.
that is applied to a place of business.
the domestic rates appear to be much lower.
from what i understand, the rateable value is similar to an assessment of the value of your property for tax purposes.
you then pay the government a certain amount of money based on the tax rate, or multiplier, of that assessed value.
here's a couple of references that i found that might be helpful.
this first one is a calculator.
it's interesting that the business tax was pretty close to .65, although not right on.
https://lpsni.gov.uk/calc/index.htm
it looks like taxable rates and multipliers are used in the united kingdom.
here's another reference that explains a little about what the rateable value is all about.
https://www.collinsdictionary.com/dictionary/english/rateable-value
there are other reference on the web that you can find by doing a search.
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