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English definition of “rateable value”

rateable value

noun [C]     /ˌreɪ.tə.bl̩ˈvæl.juː/ US  /-t̬ə-/
an official value that used to be given to a building in the UK, based partly on its size and type, which decided the amount of local tax that the owner should payTaxationMortgages and real estateRenting, hiring and hire purchase in general Renting property
(Definition of rateable value noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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