Every five years there is a regular review of the rateable values of all business and non-domestic property in England and Wales. However, the revaluation due on 1st April 2015 was postponed to 1st April 2017.
These revaluations make sure that each ratepayer pays their fair contribution and no more. This is done by adjusting the rateable values so that they reflect the rental values at 1st April 2015. Revaluation does not raise extra money for the government.
More information on the 2017 revaluation can be found by visiting the Valuation Office Agency website.