The rateable value of a property may change for several reasons.

The rateable value is based on the annual rental value on a set date, if it were available to rent. We reassess the rateable values of all business and non-domestic property every five years to take account of changes in the rental market. This is known as revaluation.

There are several reasons why your rateable value may have increased. These include:

• There has been a revaluation
• There have been improvements to the area that has increased the rateable value for all similar properties in the area
• There have been improvements to the property that are now being reflected in the rateable value.

Get an estimate of your rates bill to see the probable effect of the change in your rateable value on your business rates bill.