Apart from properties that are exempt from business rates, each non-domestic property has a rateable value which is set by the valuation officers of the Valuation Office Agency (VOA), an agency of Her Majesty's Revenue and Customs.
They draw up and maintain a full list of all rateable values, available on their website at the VOA Website. This broadly represents the yearly rent the property could have been let for on the open market on a particular date.
For the revaluation that came into effect on 1st April 2017, this date was set as 1st April 2015.
The valuation officer may alter the value if circumstances change. The ratepayer (and certain others who have an interest in the property) can appeal against the value shown in the list if they believe it is wrong.
All rateable values are generally reassessed every five years at a general revaluation to ensure bills paid by any one ratepayer reflect changes over time in the value of their property relative to others. However due to the provisions of the Growth and Infrastructure Act 2013 the revaluation was postponed until 2017. The current rating list is therefore based on the 2017 revaluation.
Further information about the grounds on which appeals may be made and the process for doing so can be found on the VOA website or from your local Valuation Office on 03000 501501.