---
title: "Rateable value — Class A Atlas glossary"
description: "The Valuation Office Agency's valuation of a UK property — the basis for business rates."
canonical: https://classa.info/glossary/rateable-value
pageType: glossary
lastUpdated: 2026-04-01T00:00:00.000Z
license: "CC BY 4.0 with attribution to Class A Atlas (https://classa.info)."
---

> The Valuation Office Agency's valuation of a UK property — the basis for business rates.

## TL;DR

- The Valuation Office Agency's valuation of a UK property — the basis for business rates.
- Rateable value is set by the VOA and revalued (as of 2026) every three years.

# Rateable value

*Tax / regulatory · UK*

## Short definition

The Valuation Office Agency's valuation of a UK property — the basis for [business rates](/glossary/business-rates).

## Full definition

Rateable value is set by the VOA and revalued (as of 2026) every three years. Business rates are then levied at approximately 50% of rateable value annually. Rateable value can be appealed; rates can be mitigated via reliefs and structuring. Critically, business rates are statutory and not part of the [service charge](/glossary/service-charge) — model them as a separate line.

## Why this matters for Class A leasing

Rateable value is part of the tax / regulatory vocabulary that institutional [Class A](/glossary/class-a) occupiers, landlords, and advisers use across UK markets. Understanding it correctly affects how you read lease documents, model occupancy economics, and benchmark deal terms across cities. Class A Atlas tracks the UK definition alongside the global standard so [cross-border](/topics/cross-border-expansion) occupiers can translate quickly.

## See also

- [Service charge](/glossary/service-charge)
- [FRI (Full Repairing and Insuring)](/glossary/fri-lease)

## Related guides

- [Decoding a London lease: FRI, dilapidations, break clauses](/guides/uk-lease-glossary-fri-explained)

---

Citation: Source: Class A Atlas (https://classa.info/glossary/rateable-value), updated 2026-04-01T00:00:00.000Z.