Explaining your business rates

Business rates are charged on most business properties such as:

• shops
• offices
• pubs
• warehouses
• factories

How business rates are calculated

The Valuation Office Agency (VOA) sets the rateable value on which your business rates are based.

This value represents the rent the property could have been let for on a certain date set in law. For the 2023 valuation, that date was 1 April 2021. This was during the Covid-19 pandemic and the rent information the VOA used reflected this. 

Read more about rateable value and how business properties are valued on the government website.

The government sets the business rates multiplier figures, which are effective from 1 April every year.

Your business rates bill is calculated by us. We're responsible for:

• calculating charges
• issuing bills
• collecting payments

We work out your business rates bill by multiplying the rateable value of the property by one of two multipliers: standard and small business. The first is higher to pay for small business rate relief.

Finding your rateable value

Use the VOA’s business rates valuation service to find out:

• the future rateable value for your property
• an estimate of what your 2023/24 business rates bill may be

Estimating your rates

Get an estimate of your business rates and see the current multiplier by using the business rates estimator tool.

The estimator tool only provides an approximate figure. Your exact rates will be shown on your bill.

Revaluation

The VOA regularly updates the rateable values of all business and other non-domestic properties. This is called a revaluation. We will make changes to your bill if a revaluation affects your bill.

Revaluations are carried out to reflect changes in the property market, which means that business rates bills are based on more up-to-date information. 

The next revaluation will come into effect on 1 April 2023.

You can find more information about business rates revaluation on the Government website.

Appeal your rateable value

You can:

• check and challenge the rateable value of your property
• appeal the rateable value of your property to the VOA

Using a rating advisor

Before you use a rating advisor or company, you should check they have the necessary knowledge and expertise. They should also have appropriate indemnity insurance.

Be careful and seek advice before entering into any contract. You can get help from a qualified rating advisor from the following companies:

• Royal Institution of Chartered Surveyors (RICS)
• Institute of Revenues, Rating and Valuation (IRRV)
• Rating Surveyors Association

What your business rates are used for

Your business rates help pay for services including:

• police services
• fire services
• public transport

Download the documents below to find out about the services your business rates pay for:

West Midlands Combined Authority transport levy expenditure 2024-25