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's 1 April 2021. We use these rateable values to calculate business rates bills.
Revaluations are done to reflect changes in the property market, which means that business rates bills are based on more up-to-date information. The latest revaluation came into effect on 1 April 2023.
Tell the Valuation Office Agency
Although Warrington BC are responsible for anything to do with your business rates bill, the VOA is responsible for the valuation of your property. You will need to contact them for all queries about your rateable value:
- Find the future rateable value for your property and get an estimate of your 2023/24 business rates bill
- Changes to property details such as floor area sizes and parking - you need a business rates valuation account. The VOA may accept your changes and update the current and future valuations. Sign in or register for a business rates valuation account
- If you think your rateable value is too high - from 1 April 2023 you need to use a business rates valuation account to tell the VOA. You must continue to pay your business rates as normal until they have made a decision. Sign in or register for a business rates valuation account ready for 1 April 2023.
How Covid-19 affected future rateable values
Most rateable values are based on an estimate of what it would cost to rent a property for a year, starting on a certain date. For the 2023 valuation that date was 1 April 2021. This was during the pandemic and the rent information the VOA used reflected this.