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  Busines Rates Information - FAQ

Rateable Value

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 new revaluation took effect from the 1st of April 2017, which was postponed for 2 years, from 1st April 2015, by the Government. The previous revaluation was 1st April 2010.

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.

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