Public buildings in England and Wales likely to get 15%-20% tax rises next year

The Royal London Hospital’s business rates valuation will jump by 35%, according to the advisory firm Gerald Eve, Photograph: Yui Mok/PA

Hospitals, colleges and fire stations are likely to face 15%-20% rises in property tax next year while bills will fall at big banks, including the Bank of England, and department stores such as Harrods.

The government on Thursday released details of a revaluation of properties across England and Wales for the calculation of business rates, with many public buildings expected to be among the losers and those in big offices, the largest retail properties and historic hotels among the winners.