What is a revaluation?
The Valuation Office Agency (VOA) regularly reassess and updates the rateable values of all business properties. This is usually carried out every five years and is called a revaluation.
The last revaluation happened in 2010.
A revaluation, reflecting changes in the property market, ensures that there is fairness in the system by re-distributing the total amount payable in business rates.
This process does not raise extra revenue overall.
Last updated: 24/10/2017 08:51:51