Business rates revaluation 2017
Rateable values in England and Wales are generally reassessed every five years, based on their open market rental value on a fixed date, although the last revaluation was in 2010.
What is rateable value?
The rateable value is assessed by the Valuation Office Agency, which is an agency of HM Revenue and Customs. A property's rateable 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 will be based on a valuation date of 1 April 2008.
- From 1 April 2017, the rateable values will be based on the valuation date of 1 April 2015.
If you think your rateable value is incorrect, you can find and view your property details on the GOV.UK website.
What is a revaluation?
The VOA regularly reassess and update the rateable values of all business properties usually every five years. This is called a revaluation.
This is done to maintain fairness in the system by redistributing the total amount payable in business rates, reflecting changes in the property market. Revaluation does not raise extra revenue overall.
You can find more information on the 2017 revaluation, rateable values, and business rates on the GOV.UK website. You can also estimate your business rates bill, including any small business rate relief the local council may apply.
You can contact the Valuation Office Agency if you think the information they have about you property is incorrect (PDF 47Kb)