Non-Domestic Rating Retail Multiplier

• the rateable value of a property, which is set by the HMRC Valuation Office (VO); and
• the relevant multiplier, which is set on an annual basis and usually increases in line with inflation unless the Welsh Government determines otherwise.

From 1 April 2026, there are three multipliers which may apply to a property in Wales. The multipliers for 2026-27 are as follows:

• a retail multiplier of 0.350, applicable to small to medium sized retail shops with a rateable value below £51,000;
• a standard multiplier of 0.502, applicable to most other properties; and
• a higher multiplier of 0.515, applicable to properties with a rateable value above £100,000.

After gross liability is calculated by combining the rateable value and the relevant multiplier, it may be reduced as a result of other relief.

Retail multiplier

The retail multiplier applies to properties with rateable values below £51,000 and one of the following descriptions in a local rating list:

• kiosk and premises
• pharmacy and premises
• post office and premises
• shop and premises
• shop, post office and premises

Standard multiplier

The standard multiplier applies to all properties which are not subject to either the retail multiplier or the higher multiplier, such as:

• properties with a rateable value below £51,000 which are not subject to the retail multiplier
• properties with a rateable value between £51,000 and £100,000
• properties with a rateable value above £100,000 which are not subject to the higher multiplier (see Higher multiplier for these property descriptions)

Higher multiplier

The higher multiplier applies to properties shown in a local or central rating list with a rateable value above £100,000. There are some exceptions for specific property types which are occupied by public sector bodies or other institutions which are largely sustained by public funding models.

Properties with the following description in a local rating list are subject to the standard multiplier, rather than the higher multiplier, even if they have a rateable value above £100,000:

• ambulance station and premises
• auxiliary defence establishment and premises
• cemetery and premises
• college and premises
• crematorium and premises
• fire station and premises
• health centre and premises
• hospital and premises
• law court and premises
• leisure centre and premises
• library and premises
• museum and premises
• police station and premises
• prison and premises
• school and premises
• sports centre and premises
• surgery and premises
• swimming pool and premises
• university and premises

Multipliers prior to 01 April 2026

Up to 31 March 2026, all properties in Wales used the same multiplier.

Multipliers for all properties up to 31 March 2026

Further information can be found on the Business Wales website here: Non-Domestic Rates – Multipliers | Business Wales