Rateable value

All non-domestic property has a rateable value set by the Valuation Office, unless it is exempt. Exempt properties include churches, public parks, agricultural land, and buildings.

The Valuation Office is an agency of the Inland Revenue. It draws up, and maintains, a full list of all rateable values. 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 current revaluation that came into effect on 1st April 2005, this date was set as 1st April 2003.

Non-domestic property is revalued every 5 years, and the next revaluation will be effective from 1st April 2010. If you wish to check your rateable value or that of any other property, follow the link to the Valuation Office website at the foot of the page. Search facilities are provided to help you find the property you are looking for. The ratepayer (and certain others who have an interest in the property) can 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 also be found on the Valuation Office website.

The Business Rates is a national scheme devised by Central Government over which local authorities have very little discretion.