Every three years, the Valuation Office Agency updates the rateable values of over 2 million commercial properties in England and Wales. This process reflects changes in the market and is known as a revaluation.
The next revaluation will come into effect on 1 April 2026. Draft valuations have now been published and can be viewed here.
Rateable Values are the amount of rent a property could have been let for on a set valuation date. For the 2026 Revaluation, that date is 1st April 2024. A rateable value isn’t necessarily the same as the amount of rent paid for a property or the level of business rates that it might be liable for.
Rateable Values are used by us as a local authority to calculate the business rates bills.
Further information on the next Revaluation can be found here.
The current 2023 Rating List will close on 31 March 2026. Please make sure you contact the Valuation Office Agency before this deadline if you think your Business rates Valuation is incorrect. More information can be found here.