What is a rateable value?

The rateable value of a property is assessed by the Valuation Office Agency (VOA), which is an agency of HM Revenues and Customs. 

The rateable value is an estimate of the annual rent a property would rent for if it were available to let on the open market at a fixed valuation date. 

To find out your rateable value and information about your property visit the VOA website.

What is a revaluation?

The VOA regularly updates the rateable values of all business and other non-domestic properties (properties that are not just private homes) in England and Wales. This is called a revaluation. Revaluations are carried out to reflect changes in the property market, which means that business rates bills are based on more up-to-date information. The current valuation took effect from 1 April 2017 and rateable values are based on the valuation date of 1 April 2015

The next revaluation will come into effect 1 April 2023.   

Revaluation 2023

For the 2023 valuation, rateable values are the amount of rent a property could have been let for as at 1 April 2021.  

Finding you 2023 rateable value

You are now able to see the future rateable value of your property and get an estimate of what your 2023/24 business rates bill may be. You can do this through the VOA's Find a Business Rates Valuation Service on GOV.UK.  

Your property details need changing

To tell the VOA about changes to your property details (such as floor area sizes and parking) you need a business rates valuation account. The VOA may accept your changes and update the current and future valuations.

Sign in or register for a business rates valuation account 

You think your rateable value is too high

From 1 April 2023, you will need to use a business rates valuation account to tell the VOA you think your rateable value is too high. You must continue to pay your business rates as normal until a decision has been made.

Sign in or register for a business rates valuation account ready for 1 April 2023. 

How Coronavirus (COVID-19) affected future rateable values 

The VOA bases most rateable values on an estimate of what it would cost to rent a property for a year, starting on a certain date. 

For the 2023 valuation, that date was 1 April 2021. This was during the pandemic and the rent information the VOA used reflected this. 

How do I appeal my 2017 Rateable Value?

If you have reason to believe that your 2017 rateable value is not correct, you will need to do the following:

An appeal on your 2017 rateable value is not possible, and may not be necessary until you have completed Check and Challenge.

How can I find out more?

More information can be found on the GOV.UK business rates pages.

Business rates team

Telephone: Monday, Wednesday, Thursday, Friday, 9am – 12noon, Tuesday 10am - 12noon

Address: Lythalls Lane Industrial Estate
Coventry
CV6 6FL

Telephone: 024 7683 2525