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English definition of “rateable value”

rateable value

noun [C]    
TAX, GOVERNMENT the official value given to business properties in the UK which decides the amount of local tax they have to pay: The proposal recommended that businesses with a rateable value of £8,000 to £10,000 a year would get rates relief of 50%. → Compare council tax
(Definition of rateable value noun from the Cambridge Business English Dictionary © Cambridge University Press)
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