Every five years the Valuation Office Agency (VOA) gives all non-domestic (business) properties new rateable values so local authorities can work out the business rates.
The rateable values broadly reflect the yearly open market rental value of each property.
The purpose of the revaluation is not to change the amount of money collected in rates nationally, but to make sure that individual rateable values reflect the changes that have taken place in the property market since the last revaluation.
The VOA have produced a list of the new rateable values on 1 April 2010 . You can check your own rateable value and get further advice on all aspects of your business rates on the Business Rates website.
From April 2010, all business rates bills will be based on these new rateable values.
The Listing Officer and Valuation Officer of the Valuation Office Agency (VOA) are responsible for compiling and maintaining the Council Tax Valuation List and Local Rating List respectively. The VOA is part of HM Revenue & Customs.
If you consider that your dwelling should be placed in a lower band or that the Rateable Value of your non-domestic property is too high, you can appeal to them at the address on this page.
Each non-domestic property is assessed for Business Rates by the Valuation Office Agency and is allocated a Rateable Value. This assessment takes place every five years, the current revaluation being effective from 1 April 2010. The Rateable Value is based upon a property's annual open market rental value as at a specified date; for the current list this was 1 April 2008. The Rateable Value forms the basis on which your Business Rates bill is calculated. Your bill shows the Rateable Value which applies to your property. The Local Rating List shows the Rateable Value of each property in the Bradford area.
The Valuation Office Agency now has the 2005 and 2010 rating lists on its website.
The Valuation Office Agency have recently launched a Ratepayers' Forum which aims to increase direct communication between the Agency and Ratepayers.