Revaluations
The Valuation Office Agency (VOA) regularly updates the rateable values of all business and other non-domestic properties (properties that are not just private homes) in England and Wales. This is called a revaluation.
Rateable values are the amount of rent a property could have been let for on a set valuation date. For the 2023 valuation, that date was 1 April 2021.
We use these rateable values to calculate business rates bills.
Revaluations are carried out to reflect changes in the property market, which means that business rates bills are based on more up-to-date information.
Revaluation 2023
In response to the uncertainty caused by the Covid-19 pandemic, the revaluation scheduled for 2021 was postponed. The most recent revaluation came into effect on 1 April 2023, based on rateable values from 1 April 2021.
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