Rateable value
The rateable value is assessed by the Valuation Office Agency (VOA), which is an agency of HM Revenue and Customs. The VOA reassess and update the rateable values of all business properties.
This is called a revaluation. It is done to maintain fairness in the system by redistributing the total amount payable in business rates. Revaluation doesn’t increase the overall revenue business rates bring in, but it does reflect changes in the property market.
A property's 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.
Until 31 March 2017, the rateable values were based on a valuation date of 1 April 2008.
Since 1 April 2017, the rateable values have been based on the valuation date of 1 April 2015.
| Rating list | Period list in force | Valuation date |
|---|---|---|
| 2023 | 01 April 2023 - 31 March 2026 | 1 April 2021 |
| 2017 | 01 April 2017 -31 March 2023 | 1 April 2015 |
| 2010 | 01 April 2010 - 31 March 2017 | 1 April 2008 |
| 2005 | 01 April 2005 - 31 March 2010 | 1 April 2003 |
| 2000 | 01 April 2000 - 31 March 2005 | 1 April 1998 |
| 1995 | 01 April 1995 - 31 March 2000 | 1 April 1993 |
| 1990 | 01 April 1990 - 31 March 1995 | 1 April 1988 |
Revaluation can often lead to large increases or decreases in rateable values as rental prices can often change. Even though your rateable value may have increased, it does not necessarily mean that your bill will increase.
The amount of business rates you are due to pay is dependent on multipliers supplied by the government that must be applied when calculating bills. For more information on the 2017 revaluation, rateable values and business rates visit the Valuation Office Agency website. You can also estimate your business rates bill, including any small business rate relief the local council may apply.
Even if the new rateable value of your property has resulted in a large increase in your bill, you may still get the benefit of a transitional adjustment. This may soften the impact of the price increase.
The rateable value of any property can be inspected on the VOA website. If you think your rateable value is incorrect, you can find and view your property details.
Revaluation 2026
Every three years the Valuation Office Agency (VOA) updates the rateable values of over 2 million commercial properties in England and Wales. This process reflects changes in the market and is known as a revaluation. The next revaluation will come into effect on 1 April 2026.
Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2026 revaluation, that date is 1 April 2024. Your rateable value isn’t the same as the rent you are paying on your property.
As your local council, we use these rateable values to calculate business rates bills.
At a revaluation, business rates bills may increase, decrease or stay the same. A rise in your rateable value does not necessarily mean your business rates bill will increase by a similar amount.
In England, from April 2026, the government will create two additional, lower multipliers for retail, hospitality and leisure businesses. Local councils will be responsible for deciding which businesses are eligible, in line with government guidance.
Contacting the Valuation Office Agency
As your local council, we are responsible for anything to do with your business rates bill including adding any relief you might be eligible for.
The VOA is responsible for the valuation of your property. You should contact the VOA with any questions about your property’s rateable value.
Finding your rateable value
You can now view your property’s current and future rateable value through the VOA’s find a business rates valuation service on GOV.UK. You can use this service to see the details the VOA holds for your property and compare your property’s rateable value with similar properties in the area.
You can also get an estimate of what your future business rates bill might be from 1 April 2026. This gives you an indication of what your business rates bill might be and may not take into account any relief you might be eligible for.
What to do if you think your valuation is incorrect
If you think your valuation is wrong or want to make any changes to your property details (such as floor area sizes and parking) you will need a business rates valuation account.
While you can’t challenge your 2026 valuation until 1 April, you can update the details the VOA has about your property or tell them if you think your valuation is wrong. You do this by raising a Check against your current valuation using your business rates valuation account.
Any changes made to your current valuation could result in your rateable value going up or down. This may also affect your future valuation from 1 April 2026.
You have until 31 March 2026 to request any changes to your current rateable value using your business rates valuation account. After 1 April 2026 you will only be able to make changes to your new valuation.
Working with a business rates agent
You can manage your business rates yourself. If you want to appoint an agent, the VOA has published information about how to choose a business rates agent.
If you want to authorise an agent to act on your behalf, you can appoint one using a business rates valuation account. Get more information on everything you need to know about this revaluation on the VOA’s website.
