Rateable Value - Business Rates
Information about Rateable Value
Apart from properties that are exempt from Business Rates, each non-domestic property has a rateable value which is normally set by the valuation officers of the Valuation Office Agency (VOA), an agency of the Inland Revenue. The Valuation Office Agency is responsible for maintaining a full list of all rateable values; these values are subject to revaluation every five years in order to reflect the changes in rental values of properties.
For the revaluation that came into effect on 1 April 2010, the rateable value of the property represents its annual open market value as at 1 April 2008.
The council uses the rateable value provided by the Valuation Office Agency (VOA) to work out your business rates bill. You can check your rateable value and compare it with others on the VOA website. You can also get in touch if you need to let them know of any issues.
The values of all properties in respect of which rates are to be paid to Cannock Chase Council are shown in the local rating list, a copy of which may be inspected at the Valuation Office Agency, Crown House, Birch Street, Wolverhampton WV1 4DS and at the Council's Enquiry Desk at the Civic Centre, Beecroft Road, Cannock.
Alternatively, it is possible to inspect the full rating list and also obtain 'Summary Valuations' on the Valuation Office Agency website.
The Valuation Officer may alter the value if he believes that the circumstances of the property have changed. The ratepayer (and certain others who have an interest in the property) may also in certain circumstances propose a change in value. However, if the ratepayer and Valuation Office do not agree, the matter will be referred as an appeal to the Valuation Tribunal.