The rateable value is determined by the Valuation Office Agency, which is an agency of HM Revenue and Customs and sets the rateable value of business premises by using property details such as rental information.
We use the rateable value and the business rates multiplier (set by central government) to calculate your business rates bill.
A property's rateable value is an assessment of the annual rent the property would rent for if it were available to let on the open market at a fixed valuation date.
From 1 April 2023, the rateable values are based on the valuation date of 1 April 2021.
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