All business and non-domestic properties are valued on the same date – the valuation date.

The valuation date is set two years before the revaluation comes into effect. This has been the case since the current business rates system was introduced in 1990.

• The 2010 valuations are based on the value on 1 April 2008
• The 2005 valuations are based on the value on 1 April 2003
• The 2000 valuations were based on the value on 1 April 1998
• And so on...

This gives us time to collect the information we use to support our valuations and to prepare all the valuations before we publish the rating list.

The aim of each revaluation is to redistribute the same overall business rates bill to businesses based on the relative changes in property values since the last valuation date. All properties are valued on the same date so as to ensure fairness and consistency.