How is a Rate Bill calculated?
The rate bill is calculated by multiplying the ‘Rateable Valuation’ by the ‘Annual Rate on Valuation’ (ARV).
- Rateable Valuation is decided by the Commissioner of Valuation (or on appeal by the Valuation Tribunal, High Court or Supreme Court).
- Annual Rate on Valuation is set annually by the Members of Cork County Council at the Budget Meeting.
It is the product of these two elements which determines a rate bill*
* Ratepayers located in the functional areas of the Town Councils of Bandon, Bantry and Passage West pay an additional town charge for services provided by those Town Councils.
An example of rate payable on a property with Valuation of €10.00:
| (a) Rateable Valuation |
€10.00 |
| (b) Annual Rate on Valuation (ARV) |
74.75** |
| (c) Rates Payable (a) x (b) |
€10 x 74.75 = €740.75 |
**ARV used in example is ARV of Cork County Council in 2011.
