Rateable value
The rateable value of all buildings that are not domestic properties (homes) is worked out by the Valuation Office Agency. All non-domestic property is revalued every five years.
Since 1 April 2005, Rateable values are the main factor in calculation of business rates. They are not the rates bill. The rateable value is a professional view of the annual rent for a property if it was available on the open market. The values of all property and the rates which they need to pay to the Council are shown in the local rating list. A copy of this may be seen at:
- The Valuation Office Agency, 72 Church Street, Liverpool, L1 3AY (Phone 0151 802 1000);
- Liverpool City Council, City Centre One Stop Shop, Municipal Buildings, Dale Street, Liverpool L69 2DH
- On the web site for the Valuation Office Agency at 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. In some cases, the business rates payer (and certain others, including the Council, who have an interest in the property) may also ask a change in value.
If the ratepayer and the valuation officer do not agree to any rate 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 still have to pay the rates as shown on the rates bill sent to you.