The rateable value for most properties is based on an estimate of what it would cost to rent the property for a year, starting on a certain date.
The Valuation Office Agency (VOA) is responsible for the valuation of your property, not Thurrock Council.
The VOA regularly updates the rateable values of all business properties in Thurrock – this is called a revaluation. Revaluations reflect changes in the property market, which means business rates bills are based on more up-to-date information.
Up to 31 March 2023, rateable values are based on the valuation date 1 April 2015.
From 1 April 2023, rateable values are based on the valuation date 1 April 2021. This was during the coronavirus (COVID-19) pandemic, which is reflected in the rent information used by the VOA.
Find your future rateable value
Ahead of your business rates bill being issued, you can check the rateable value for your property and get an estimate of your business rates by going to GOV.UK: Find a business rates valuation.
You can only make a formal appeal against your 2023 rateable value after it comes into effect on 1 April 2023.
Contacting the VOA
To tell the VOA about changes to your property details, such as floor area sizes or parking, you need a business rates valuation account. The VOA may accept your changes and update their current and future valuations.
From 1 April 2023, you will need to use a business rates valuation account if you wish to tell the VOA you think your rateable value is too high.
You must pay your business rates as normal until the VOA makes its decision.
You can sign-in or register for a business rates valuation account below.
How we use rateable values
The rateable value of your property is not the amount you pay in business rates.
To work out your business rates we multiply the rateable value of your property by a 'business rates multiplier' set by central government. We then apply any rate relief or other adjustment to which you are entitled.