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What do the coming business rates changes mean for cities?
What do the coming business rates changes mean for cities?
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Introduction
Figure Context: What is changing?
1. Most cities will see a fall in their average business rates bills
Figure Figure 1: Average increase in business rates in cities after revaluation
Figure Figure 2: Change in average business rates bill 2016/17 – 2017/18
2. Central London is making an ever greater contribution to business rates
Figure Figure 3: Average increase in business rates in city centres after revaluation
3. Changes to business rates exemptions mean that many small businesses will no longer have to pay any business rates
Figure Figure 4: Properties that are exempt from business rates
4. But it also means large businesses will bear ever more of the burden
Figure Figure 5: Average increase in business rates for properties with rateable values over £70,000
5. And some cities will be very reliant on a handful of properties
Implications
Figure Box 1: Methodology
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6: Contribution of the 30 largest properties to total business rates generated in cities
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