The rateable value is about 4,000,000.
Although the area is comparatively small the rateable value is enormous.
But for certain purposes these boroughs are part of the county and rateable to county rate, e.g.
If, however, the total debt of the council will, with the amount proposed to be borrowed, exceed onetenth of the annual rateable value of the property in the county, the money cannot be borrowed unless under a provisional order made by the Local Government Board and confirmed by parliament.
These expenses are payable out of a common fund which is raised out of the poor rate of the several parishes in the district, according to the rateable value of each.
The expenses in a rural parish are defrayed by means of a rate raised with, and as part of, the poor rate, with a qualification to the effect that agricultural land, market gardens and nursery grounds are to be assessed to the rate at one-third only of their rateable value.
Under the act of 1882 the municipalities were given power to levy annually an owner's rate assessed upon the capital value of rateable property, and a tenant's rate assessed upon the annual value of such property.
He himself advocated with some force that it would be wiser and more popular to fix the county franchise at 20 and the borough franchise at 6 rateable value; and he contended that such a settlement could be defended on the old principle that taxation and representation should go together, for 20 was the minimum rent at which the house tax commenced, and a rateabie value of 6 was the point at which the householder could not compound to pay his rates through his landlord.
The rateable value increased from f 709,000 in 1901 to £2,400,000 in 1905.
It was provided that where more than zo% of the population of a county lived in electoral divisions of which the total rateable value, when divided by the number of the population, gave a sum of less than LI, Ios.
This valuation list contains the gross estimated' rental and rateable value of all rateable property in the parish.
From this is deducted the average annual cost of repairs, insurance and renewals, the balance constituting the rateable value.
The rateable value of the parish being known, so much on each pound of the rateable value as will equal the amount required to be raised is levied, and is known as the "rate."
By the Metropolitan Poor Act 1867, the metropolitan common poor fund, to which each union in London contributes in proportion to its rateable value, was established.
In 1908 the rateable value of the municipality was £36,466,644, the rate 21d.
The total rateable value of the suburbs, not included in the above figures, is over £8,000,000.
The Peel report recommended that a large reduction in the number of licensed houses should be immediately effected, and that no compensation should be paid from the public rates or taxes, the money for this purpose being raised by an annual licence-rental levied on the rateable value of the licensed premises; it at once became a valuable weapon in the hands of advanced reformers.
This will be seen by an examination of the rateable value of the three townships now comprised in the borough.