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.

There is a new revaluation taking place in 2023. The valuation office have started to contact businesses to ask them for up to date rent, lease and ownership details. If you are contacted by them please go onto their website and complete their online form as soon as you can. More information can be found on their dedicated page.

  • the 2010 list and was valid until 31st March 2017 has the rateable values based on the valuation date of 1 April 2008. 
  • the 2017 list which came in on 1st April 2017 has the rateable value based on the valuation date of 1 April 2015. 
  • the 2023 list which will start on 1st April 2023 has the rateable value based on the valuation date of 1 April 2021. 

The local authority is responsible for anything to do with your business rates bill, but the Valuation Office is responsible for the valuation of your property. If you have any queries about your rateable value you will need to contact the Valuation Office directly. 

Finding your rateable value

You can find and check your business rates valuation on the Valuation Office website.

If your property details need changing

To tell the Valuation Office about changes to your property details (such as floor area sizes and parking) you need to have a business rates valuation account. 

If you think your rateable value is too high

From 1 April 2023 you will need to use a buisness rates valuation account to tell the Valuation Office you think your rateable value is too high. You must continue to pay your business rates as normal until a decision has been made. 

How has Coronavirus (COVID -19) affected future rateable values

The Valuation Office bases most rateable values on an estimate of what it would cost to rent a property for a year, starting on a certain date. 

For the 2023 valuation, that date was 1 April 2021. This was during the pandemic and the rent information the VOA used reflected this. 

Find out more

Contact the Valuation Office 

For further information on rateable values call 03000 501501 or visit the Valuation Office Agency website.

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