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Business Rates frequently asked questions

What is the rateable value of a property?

The rateable value is assessed by the Valuation Office Agency, 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 2017, the rateable value  is based on the valuation date of 1 April 2015. For the next revaluation which comes into force from 1 April 2023, the date will be 1 April 2021.

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