What is the Rateable Value?
Rateable values are fixed by the Government's Valuation Office Agency.
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All non-domestic property is revalued every 5 years. From 1 April 2005 the rateable value of your property broadly represents its annual open market rental value as at 1 April 2003.
The rateable values are shown in the local rating list. You may inspect a copy at:
Valuation Office Agency - (Inland Revenue)
London House
New London Road
Chelmsford
Essex CM2 0QL
or on their website www.voa.gov.uk  and at the Council's office at Church Walk House.
If you think the rateable value of your property should be reduced, you can contact the Valuation Office at the above address or telephone (01245) 541200.
Even if you have appealed against your rateable value you must by law continue to pay your rates.
If you are successful with your appeal and get a reduction in your rateable value that results in an overpayment, you will receive interest (less tax) at the rate set by the government.
However, if we have had to take formal legal action against you due to non-payment of your rates, interest is not payable.
WARNING: Beware of cowboy business rate advisors claiming to be able to get reductions for you, especially if they ask for money first. Many businesses across the country have been misled.
Remember you can appeal against your rateable value yourself at no cost or employ a reputable firm of chartered surveyors.
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