The value of the property is an asset of the company. Maybe a tax based on increased value on the sale would be a better option for the long term ?
If I sell the property I am renting out I pay tax on the sale.
As for the ongoing rates then as much as possible should be based on measurable needs such as the cost of waste collection etc.. water is metered, power is metered, gas too, so you pay for what you use.
The issues that will cause uproar are in other services such as schools, police, leisure, libraries etc. As these are for the population then domestic rates would be a more appropriate source for rates revenue.
Our town centre is poor especially since the out of town shopping area was built. Attempts are in place to regenerate but higher rates would kill off a lot of gains.
I do not know enough about the whole business rates scenario but I think it is a dangerous road to go down as in many areas the economy is seriously depressed and businesses on the brink. Many will be pushed to closure.
This is an income source for the treasury that is a poorly thought out one....yet again.
