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.
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 you are entitled to.
You can Find and correct your business rates valuation on the GOV.UK website.