The rateable value of a property is based on its estimated open market rental value on a specific date.
The rateable value of your property is not the amount you pay in business rates. It is a calculation of your business rates bill.
All properties are valued from the same date so they’re assessed on a level basis. For example, rating lists that came into effect on 1 April 2017 are all based on a 1 April 2016 valuation date.
We work out your business rates by multiplying the rateable value of your property, set by the Valuation Office Agency (VOA), by the business rates multiplier. This is set by central government.
We will apply any rate relief or other adjustment to which you are entitled.
Go to GOV.UK: find and check your business rates valuation to:
- check the rateable value of your property
- request changes to property or valuation details if you think they’re wrong
- view the valuation details of other properties
- challenge the rateable value, if eligible