Rateable Value: How the VOA Assesses Your Property
Written by Scott Jones, founder of CommercialPropertyKiln · Last updated
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The rateable value drives your business rates bill, so it pays to understand how the Valuation Office Agency (VOA) arrives at it and how to check it.
What rateable value is
The rateable value (RV) is the VOA's estimate of the annual rent the property could reasonably have been let for on a set valuation date, on standard terms. For the rating list that took effect on 1 April 2026, that date, the antecedent valuation date, is 1 April 2024.
How it is assessed
Most commercial property is valued by reference to rental evidence, comparing the property with rents actually paid on similar premises, adjusted for size, location and condition. Some specialist properties are valued differently, for example on a contractor's basis (the cost of providing the property) or a receipts and expenditure basis (the trade the property supports), where good rental evidence is lacking.
Checking your assessment
You can view your rateable value on the VOA rating list and see the valuation detail. If the floor areas, description or other facts are wrong, or the value is out of line with comparable evidence, you can challenge it. See how to appeal.
Why it matters
Because the bill is rateable value multiplied by the multiplier, an inaccurate RV overcharges you for the life of the list. Check it after the 2026 revaluation, and use our business rates calculator to estimate the bill.
How does the VOA set a rateable value?
It estimates the annual rent the property could have been let for at the valuation date (1 April 2024 for the 2026 list), usually from rental evidence on similar premises.
Can I check my rateable value?
Yes, on the VOA rating list. If the facts or the value are wrong, you can challenge it through Check, Challenge, Appeal.