Rateable Value

Rateable Value

Apart from properties that are exempt from Business Rates, each non-domestic property has a rateable value which is set by the valuation officers of the Valuation Office Agency (VOA), an Agency of the Inland Revenue. It draws up and maintains a full list of all rateable values, which are available on their website at http://www.voa.gov.uk/

The rateable value of your property will be shown on the front of any bill. The rateable value broadly represents the yearly rent the property could have been let for on the open market on a particular date. For the revaluation that came into effect on 1 April 2005, this date was set as 1 April 2003. Download a leaflet telling you how properties are assessed for business rates. (pdf: 70KB)

The valuation officer has to maintain the list and may alter the value if he or she believes that the circumstances of the property have changed. The ratepayer (and certain others who have an interest in the property) can also appeal against the value shown in the list if they believe it is wrong.

Further information on the grounds for making an appeal, and on how to make one, can be found on the VOA website at http://www.voa.gov.uk/ or from the local valuation officer at:-

The Listing Officer
The Valuation Agency
6th Floor
St Clare House
Greyfriars
Ipswich
IP1 1LR

Tel: 01473 587800
Website: http://www.voa.gov.uk/

The effect of successful appeals against values shown in the rating list that came into force on 1 April 2000 will normally be backdated to the beginning of the financial year in which they are made, although there are exceptions to this. Further information about these arrangements may be obtained on the ODPM website. There is also a leaflet produced by the valuation office about making appeals. (pdf: 25KB)