2010 Revaluation

Every 5 years the Valuation Office Agency re-assesses all business properties and gives them new rateable values, based on rental values, for the purpose of calculating how much business rates are payable. This is called the Revaluation and the last one took effect from 1st April 2010.

The next revaluation was due to take place with effect from 1st April 2015, however the Government has announced that this has been delayed and regular 5 yearly reviews will resume after 2017.

Revaluations take place to reflect the changes in the property market across the country. As a result of the Revaluation some rates bills will rise and some will fall.

Ratepayers have received a Summary Valuation which will explain how the Rateable Value has been worked out. Business Rates bills are calculated, based on these figures, so it is essential that Ratepayers check the Summary Valuation details carefully.

Please do not contact Broxtowe Borough Council if you have any queries or if you disagree with your Summary Valuation you must contact the Valuation Office Agency as soon as possible on their dedicated 2010 Helpline number 0845 602 2010 or visit their website and a link to this is found under the Offsite Links section.

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T: (0115) 917 7777
F: (0115) 917 3555

Page Last Updated: 18/02/2016