The rateable value (or RV) is based on the yearly rental value of the property. For more information see the Valuation Office (External Link). A revaluation is carried out every five years and new values are given to all properties. The last revaluation took effect from the 1st of April 2010, but the next one (which was due on 1st April 2015) has been postponed for two years by the Government and will now take effect from 1st April 2017.
The rateable value is multiplied by the rate in the pound to arrive at the rates payable and in certain cases transitional arrangements may apply.
If you want to check your balance, ask any other questions or tell us that your business has moved into or out of the city please contact us.