Students’ value beliefs tend to decrease across secondary school (Wigfield et al., 2015). However, previous studies did not differentiate between all the dimensions of task values defined by expectancy-value theory (Eccles et al., 1983). Therefore, this study evaluated an instrument for assessing multiple value dimensions across grade level and academic subjects and tested for differences between grade levels in these subjects. A total of 830 students from Grades 5 to 12 completed a questionnaire assessing their value beliefs in German, English, math, biology, and physics with 37 items each. The factor structure was shown to be invariant across academic subjects, grade levels, and gender. Generally, students in higher grades showed lower means on positive value facets and higher means on cost facets. However, the results varied substantially by facet and subject. Furthermore, stereotypical gender differences in value beliefs were found, and some of these differences increased with students’ grade level. The findings indicate that examining multiple dimensions and subjects is crucial for developing a complete understanding of the development of students’ value beliefs.