Revaluation is a review of the rateable values of all non-domestic properties in England and Wales carried out by the Valuation Office Agency (VOA). This happens every 3 years.
Rateable value
To calculate the rateable value, the VOA analyses the rental property market to make sure that rateable values reflect the property market accurately. A property’s rateable value is an assessment of the annual rent the property would rent for, if it were available on the open market at a fixed valuation date.
From 1 April 2026, the rateable values are based on the valuation date of 1 April 2024.
Revaluation
At revaluation, the VOA reassess and update the rateable values of all business properties.
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 details of your new rateable values for 1 April 2026 and get an estimate of your 2026/27 business rates bill using the find a business rates valuation service on GOV.UK.
Report property changes
If a property has changed, for example its floor sizes are different, then you can let the VOA know now using a business rates valuation account on GOV.UK.
Challenge your property’s rateable value
If you believe your future rateable value is too high, you can get in touch with the VOA using a business rates valuation account on GOV.UK. You can only do this after 1 April 2026, which is when the future valuation legally takes effect and can be challenged. You must continue to make payments of your business rates as normal. If you do overpay, you can request a refund.