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Revaluation of non-domestic properties

We are carrying out a rating revaluation of all non-domestic properties in Northern Ireland.

The revaluation, which was announced by the Finance Minister, Peter Robinson, in July 2007, will use rental values as at 1 April 2008. More information about the background to this revaluation is available at www.ratingreviewni.gov.uk

What is a revaluation?

A revaluation is a process to bring rateable values back into line with current property values. It results in a new Valuation List.  The last non-domestic revaluation was carried out in 2003. We are not revaluing domestic properties at this time.

Why is the revaluation being carried out?

Immediately after a revaluation all ratepayers pay in direct proportion to the rental value of the property they occupy. However, over time, this becomes unfair because social, economic and environmental circumstances change, but do not affect all properties and areas in the same way. The result is that -

  • Businesses in areas which have experienced proportionate economic decline since the last revaluation may pay proportionally too much in rates.
  • Businesses in areas that have benefited from improved economic conditions may pay proportionally too little in rates.

The only way to tackle this is through a revaluation.

When does the revaluation come into effect?

The new valuation list will be published and come into effect in April 2010. From then on your non-domestic rate bill will be based on these new assessments.

What are rateable values?

Rateable values (or Net Annual Values) are used to work out your non-domestic rate bill.

They are –

  • Based on rental values
  • Fixed at the time of the revaluation

For example, the rental value of a shop (whether rented out or owner-occupied) is the yearly amount it could be rented for, based on the assumption that the tenant is responsible for rates, repairs and insurance.

Domestic rate bills are based on capital values.

Who assesses the new rateable values?

Land and Property Services assesses the new rateable values.

Will my property be inspected?

We already have extensive information from surveys and other property records, so most properties do not need a detailed inspection. However, an inspection may be needed if -

  • Your property has changed since it was last inspected
  • We need to check that our records are accurate
  • We need to add extra detail for valuation purposes

Do higher rateable values mean higher rate bills?

In general, no. The revaluation in itself will not increase the total amount of rates payable in Northern Ireland as a whole.

However, individual ratepayers will be affected –

  • Some may pay more (those whose premises have enjoyed above-average rental growth)
  • Some may pay less (those whose premises have experienced below-average rental growth.)

Will derating be affected by the revaluation?

No. The percentage derating applied to some industrial properties will not be affected. From 1 April 2010 any rates paid on these properties will be based on the new valuation.

Can I appeal my new valuation?

Yes. You can ask the District Valuer to carry out a review. You also have further rights of appeal to the Commissioner of Valuation and the Lands Tribunal for Northern Ireland.

What is a Form of Return?

  • We use the Form of Return to gather information to help us accurately revalue your property. We require you to provide information on the rent you pay, your lease and the terms and conditions of your tenancy.
  • We use the information you provide for the purposes of valuation. We do not publish it or supply it to other bodies or organisations.

Is there a statutory basis for this?

Yes.The statutory basis for requesting this information is contained in Articles 59(1) and 60(1) of The Rates (Northern Ireland) Order 1977.

  • Under Article 59 any person served with a Notice by the Commissioner of Valuation or the District Valuer is obliged to supply the information requested within the timeframe set in the Notice.
  • Article 60 covers the fines that apply for failure to comply with a Notice served under Article 59.

Helpline

Contact our helpline on 0845 0260 235

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