Apart from properties that are exempt from business rates, each non-domestic property has a rateable value that is normally set by the Valuation Office Agency (VOA). The VOA draws up and maintains a full list of all rateable values which is available on their website
The rateable value represents the yearly rent the property could have been let for on the open market on a particular date. For the revaluation that came into effect on 1st April 2017, this date was set as 1st April 2015.
Burnley Council works out your business rates bill by multiplying the rateable value of the property by the appropriate multiplier. There are two multipliers: the standard non-domestic rating multiplier (47.9p from 1 April 2017) and the small business non-domestic rating multiplier (46.6p from 1 April 2017). The former is higher to pay for small business rate relief.
For the financial year 2018/19, the standard non-domestic rating multiplier is 49.3p and the small business multiplier is 48.0p.
Each year the Government sets the multipliers for each financial year for the whole of England according to formulae set by legislation. The current multipliers are always shown on the front of your bill.