How are properties valued for Council Tax purposes?
Each property is placed on a "valuation list" in one of eight "valuation bands", from A to H. The list will show only the band to which your home has been allocated, not its actual value.
Valuations are carried out by the listing officer at the Valuation Office Agency (part of the Inland Revenue), not Fylde Borough Council. The basis of valuation is the "capital value" of each dwelling. Valuation lists can be compiled fairly only by assessing values of dwellings on one common date. 1 April 1991 is the date which was chosen for this exercise.
Capital values are arrived at by estimating the amount each dwelling might have been sold for on the open market, subject to certain assumptions, if it had been sold on 1 April 1991 (taking account of any significant change to the property between then and 1 April 1993, such as an extension). The object is to determine the relative values of properties within a particular area as at a particular date. Changes in value since then do not normally count.
