How Business Rates are Calculated

We work out business rates each year by taking a property's rateable value and multiplying it by the 'multiplier' set by the government each year. If you think your rateable value is too high you have the right to appeal.

What rateable value means

All business properties which aren't homes are given a rateable value, as a way of measuring how valuable each property is.

The Valuation office will now carry out revaluation every 3 years and the next revaluation will come into effect from 1st April 2023, for further information please visit the Valuation Office Agency website. The rateable value is an estimate of how much yearly rent the property could have earned on a particular date. Currently the date is 1st April 2021 for the current revaluation and that took place on 1st April 2023.

Rateable values aren't set by the council but by the Valuation Office Agency, who are part of HM Revenues and Customs.

The multiplier

Each year on 1^st April the multiplier is changed by the government depending on the level of inflation.

In 2024/25 the multiplier is 0.546, so if your rateable value was £100,000 we would multiply this by 0.546p and your bill would be £54,600.

Changes to the Rateable Value

The rateable value may change if any physical changes are made to your property, for example building or demolishing an extension. Please ensure that you tell us about any changes as soon as possible.

Appeal about your rateable value

You have the right to appeal to the Valuation Office Agency about your rateable value if you think it's too high, even if there haven't been any changes to the property or your business.

More information on Business Rates is available via Gov.uk - Business Rates Guidance. Alternatively, you can contact the local Valuation Office Agency on 03000 501501.

You can find out more about grounds for an appeal and how the process works on the Gov.uk - Business Rates Appeals page

Business Rates Multipliers for each financial year 2005 to 2023
Financial year	Business Rates Multiplier	Small Business Rates Multiplier
2024/25	Standard 54.6p	49.9p
2023/24	Standard 51.2p	49.9p
2022/23	Standard 51.2p	49.9p
2021/22	Standard 51.2p	49.9p
2020/21	Standard 51.2p	49.9p
2019/20	Standard 50.4p	49.1p
2018/19	Standard 49.3p	48.0p
2017/18	Standard 47.9p	46.6p
2016/17	Standard 49.7p	48.4p
2015/16	Standard 49.3p	48.0p
2014/15	Standard 48.2p	47.1p
2013/14	standard 47.1p	46.2p
2012/13	standard 45.8p	45.0p
2011/12	standard 43.3p	42.6p
2010/11	standard 41.4p	40.7p
2009/10	standard 48.5p	48.1p
2008/09	standard 46.2p	45.8p

The multiplier applied can be found on the front of your Business Rates bill.

Contact us

Tel: 01279 655261 Ext 7223

Enquire via our online form

Write to:

Business Rates Section
East Herts Council
Wallfields
Pegs Lane
Hertford
Herts
SG13 8EQ