Rateable value
The rateable values of all buildings that are not residential properties are determined by the Valuation Office Agency. Non-domestic properties are revalued every five years.
Rateable values are used to calculate the amount of business rates payable for each property. The rateable value is not the amount of rates that are payable for a property. The rateable value is a professional view of the annual rent for a property if it was available on the open market. The rateable values of all properties are shown in the local rating list. A copy of this may be seen on the web site for the Valuation Office Agency www.voa.gov.uk
Can the rateable value of a property change?
The valuation officer may change the value if he thinks that the circumstances of the property have changed e.g. there has been an extension to the building, the property has been split or merged to form new assessment(s). In some cases, the business rates payer (and certain others, including the Billing Authority, who have an interest in the property) may also ask a change in circumstances to be reviewed.
If the ratepayer and the valuation officer cannot agree upon proposed rateable value changes, the matter will be referred to the Merseyside Valuation Tribunal.
Can I appeal against any changes made to the rateable value of my property?
Further information about the new appeals arrangements can be provided from us or from the web site of the Valuation Office at www.voa.gov.uk/business_rates/appeals.htm.
If you appeal against your rateable value, you must still pay the rates shown on your rates bill until the result of your appeal is determined.