Non-domestic Revaluation – Valuation List published
Wed, March 18, 2015
Non-domestic Revaluation – Valuation List published. Land & Property Services (LPS) has completed the revaluation of all non-domestic properties in Northern Ireland which will help rebalance business rates. The new Valuation List was published online on 5th March at www.reval2015ni.gov.uk. Rate bills issued from 1 April 2015 will be based on the new values. Ratepayers can search the new Valuation List and check the new valuation of any non-domestic property in Northern Ireland. The new Valuation List has been updated with information to show current and new Council names, rateable values, rate poundages and annual rate estimates for each property which will give ratepayers an indication of whether their liability will increase or decrease from April. Please note that these calculations are for illustrative purposes only and do not include any reliefs, exemptions or district rate subsidy that are applied to bills by LPS. IMPORTANT INFORMATION ABOUT YOUR NEW RATEABLE VALUE • The rateable value is an assessment of the annual rental value of the property, as at April 2013. • The new rateable values will be used to calculate rate bills from April 2015 onwards. • A change in your rateable value does not necessarily mean a similar corresponding change in your rate bill as rate poundages have also changed. • A rateable value is assessed for every property whether it is rented, vacant, or owner-occupied. • The 11 District Councils have published the District Rate poundages and the NI Executive has set the Regional Rate poundage. Therefore it is now possible to check annual rate estimates for 2015-2016. Check the dedicated Reval 2015 website, www.reval2015ni.gov.uk (website no longer active), for further information and links to frequently asked questions and answers that you may find useful. TWEET Non-domestic Revaluation NI - business ratepayers – new Valuation List and annual rate estimates published online http://bit.ly/1FzxlrL (website no longer active)