Business Rates frequently asked questions
What is the rateable value of a property?
The rateable value is assessed by the Valuation Office part of HMRC, which is an agency of HM Revenue and Customs. 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 2026, the rateable value is based on the valuation date of 1 April 2024.
