All business properties have a rateable value unless it is exempt from rates. Following the 2005 revaluation, the rateable value broadly represents the annual rent the property could have been let for on the open market in 2003. This is assessed by the Valuation Office Agency. Their address is:
The Valuation Office Agency
Telephone: 01452 360200
The Valuation Agency is part of the Inland Revenue. There will be further revaluations for all property every five years to keep rateable values up to date and to ensure that each ratepayer's bill is fair in relation to others.
How do you find out what your Rateable Value is?
If you are a ratepayer, the rateable value of your property will be shown on the non-domestic rates bill sent to you. It is also shown in the rating list. On line users can access your rateable value for both the 1995, 2000 and 2005 rating lists via: www.voa.gov.uk. You can also access this website at the Council Office reception.
The local valuation officer must tell you if he changes the rateable value of your property.
Revaluation of Business Rates 2010
Every five years, the Valuation Office Agency (VOA) has a statutory duty to carry out a revaluation of all rateable values in England and Wales, which ensures that they reflect changes in the property market. The next revaluation is due to come into effect on 01 April 2010 and all properties will have their rateable value assessed on the valuation date of 1 April 2008.
Find out about the process of revaluation of Business Rates at: www.voa.gov.uk/business_rates/2010_revaluation.htm