Property Rateable Value (RV)
Your rateable value is based on the open market rental value as at 1st April 2015 and is calculated by the Valuation Office Agency (VOA)
Your property details are listed on the VOA’s website www.voa.gov.uk
You can find your property by searching using either your ‘property reference number’ or your postcode
It is important that you check that the details listed on the VOA website are correct:
- ensure that the square footage detailed is correct
- the RV shown is not more than the rent you pay
- the property description (e.g. workshop, business unit, shop, office & premises etc) should also be accurate as different charges are applied to different property type
If you find that any of the details above are incorrect you need to submit an appeal:
The appeal process has 3 steps:
- Check
- Challenge
- Appeal
This can take up to 18 months to be finalised. If appealing, when submitting please indicate that this is a Hardship Appeal and it should then be given priority.
Revaluation of your current Rateable Value
The 2021 Revaluation was delayed due to Covid-19, and will become effective on 1st April 2023.
It is imperative that your rateable value is correct or that you submit an appeal as soon as possible, as the 2023 Revaluation will be based on the rental values submitted by owners as at 1st April 2021.
Any changes applied to your rateable value prior to 1st April 2023 will be taken into account for revaluation purposes.
Please note, your RV could increase as well as decrease.
You do not need to employ the services of a rating agent to submit an appeal, you can do this yourself as they will charge you for this service and then take a percentage of any reduction received. If you would like some advice, please email us on info@stationtostation.london
