How business rates are calculated

Rateable value

The rateable value of non-domestic property is set by the valuation officers of the Valuation office agency (VOA). They draw up and maintain a full list of all rateable values, available on the Valuation Office Agency website

Rating multiplier

The national non-domestic rating multiplier is the rate in the pound by which the rateable value is multiplied to produce the annual rate bill for a property. It is set annually by the Government and, except in a revaluation year, cannot by law rise by more than the amount of the increase in the retail prices index. 

Explanatory notes

These are available to view in the downloadable document below:

Changes in value

The Valuation Officer may alter the value if he believes that the circumstances of the property have changed. The ratepayer (and certain others who have an interest in the property) may also in certain circumstances propose a change in value.

If the ratepayer and Valuation Officer do not agree, the matter will be referred as an appeal to the Valuation Tribunal.

Incorrect values

If you think the rateable value of your property is incorrect, go to the Appeal Against your Rateable Value webpage.

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