ratable value

rateable value

noun

British (formerly) a fixed value assigned to a property by a local authority, on the basis of which variable annual rates are charged

Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012