A revaluation of all rateable values normally takes place every 5 years and is conducted by the Valuation Office Agency (VOA), which is an agency of HM Revenue and Customs. This is to ensure that the rateable values reflect the changes that have taken place in the property market since the last valuation and to maintain fairness in the system by redistributing the total amount payable in business rates. Revaluation does not raise extra revenue overall.
A property's rateable value is an assessment of the annual rent the property would rent for if it were available to let on the open market at a fixed valuation date.
- The previous list is the 2010 list and was valid until 31st March 2017 - the rateable values are based on a valuation date of 1 April 2008.
- The new list, which came in on 1st April 2017, has the rateable value based on the valuation date of 1 April 2015.
Find out more
- Gov.UK: revaluation, rateable values and business rates
- The VOA have sent this leaflet to all rate payers
Contact the Valuation Office
For further information on rateable values call 03000 505 000 or visit the Valuation Office Agency website.