Who Sets Rateable Values?
Rateable Value Is the Value Assigned to Non-Domestic Premises by the Valuation Office Agency. It's Based on a Property's Annual Market Rent, Size and Usage...
Rateable value is the value assigned to non-domestic premises by the Valuation Office Agency. It's based on a property's annual market rent, size and usage. The Valuation Office Agency (VOA) reviews these values every five years and often values properties at different levels.
Who determines rateable value?
Rateable values are calculated by the Valuation Office Agency (VOA) which is independent from local authorities. The VOA gives government the valuations and property advice needed to support taxation and benefits.
What is the rateable value of a property based on?
The rateable value, or property's value, is based on the open market value from 2015. These are estimates from the Valuation Office Agency.
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