The revaluation, or reassessment, of all rateable values is carried out by the Valuation Office Agency to ensure that they are kept up to date and reflect changes in the property market.

The 2017 revaluation takes effect from 1 April 2017 and will be based on rental values at 1 April 2015.

All properties are given a new rateable value.


Frequently asked questions

What are business rates?

Business rates is a local tax that is paid by the occupiers of all non-domestic/business property, in the same way that council tax is a tax on domestic property.

Business rates are charged on most business properties such as shops, offices, pubs, warehouses and factories.

However, the property doesn't have to be used for a business - if it is used for purposes which are not domestic it is likely to be rateable. We will send you a business rates bill each year.

Roles and responsibilities?

The VOA sets the rateable value of business premises by using property details such as rental information. We use the rateable value and the business rates multiplier (set by central government) to calculate your business rates bill.

What is the Rateable Value?

The rateable value is assessed by the Valuation Office Agency, which is an agency of HM Revenue and Customs.

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. From 1 April 2017, the rateable values will be based on the valuation date of 1 April 2015.

If you think your rateable value is incorrect, you can find and view your property details on the GOV.UK website.

What is a revaluation?

The VOA regularly reassess and update the rateable values of all business properties usually every five years. This is called a Revaluation.

This is done to maintain fairness in the system by redistributing the total amount payable in business rates, reflecting changes in the property market. Revaluation does not raise extra revenue overall.

How can I find out more?

For more information on the 2017 Revaluation, rateable values, and business rates visit GOV.UK.

You can also estimate your business rates bill, including any small business rate relief the local council may apply.