The Rateable Value
Apart from properties which are exempt from Business Rates, each
non-domestic property has a rateable value. Rateable Values are
fixed by the Government's Valuation Office Agency (VOA), not the
Council. There is a full list of all
rateable values (external link) on the Business
Link website.
We will calculate the rates bill by multiplying the rateable
value by a rate in the pound known as the Multiplier.
All non-domestic property is revalued every five years. From 1
April 2005, the rateable value of your property broadly represents
its rental value on the open market as at 1 April 2003. From 1
April 2010, the rateable value of your property broadly represents
its rental value on the open market as at 1 April 2008.
The rateable value of your property will be shown on the front
of your bill.
The VOA may alter the value if the circumstances of the property
have changed.