Every five years, the Valuation Office Agency has a statutory duty to carry out a revaluation of all rateable values in England and Wales, which ensures that they reflect changes in the property market. The next revaluation is due to come into effect on 1 April 2010 and all properties will have their rateable value assessed on the valuation date of 1 April 2008 and will remain effective for five years, unless changes to the property require a new assessment to be made, which affects the rateable value.

Further information can be found on the Valuation Office Agency website http://www.voa.gov.uk/