Best Practice

Saving money on your school's rateable value

What is your school’s rateable value? Are you overpaying? Mark Paterson looks at how schools might be able to make substantial savings

Planning the annual budget is a critical balancing act which every school leader always faces – so any opportunity to augment finite (financial) resources is usually very welcome.

Business rates is one of those fixed costs which, usually unchallenged, appear in every annual financial plan. However, a growing number of schools are challenging their rating assessments (rateable values) received from the Valuation Office Agency (VOA).

Three schools which did successfully challenge their assessments secured an annual average saving of £40,000.

Holywell High School in Flintshire saw its rateable value reduced from £193,000 to £150,000, Connah’s Quay High School in Deeside saw a reduction from £243,000 to £204,000, and Aintree Davenhill School in Aintree from £55,000 to £43,250.

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