NI Reval2023 (revaluation)
This Autumn Land and Property Service has started the process of revaluing over 74,000 business properties to ensure business rates stay up-to-date and reflect local economic changes.
The last revaluation of non-domestic properties in Northern Ireland was in 2020 and was based on April 2018 rental values. Once NI Reval2023 is complete, the rateable values will be in line with property rental values as at 1 October 2021. These values will be used to calculate rate bills from 1 April 2023.
Key dates to note:
1 October 2021: This is the valuation date for NI Reval2023. LPS will begin to invite businesses to complete a Rent and Lease Questionnaire (RALQ)
15 December 2021: Setting of Decapitalisation Rates Consultation closes
31 December 2021: Deadline for businesses to complete RALQs
1 April 2023: New rate bills issued. These will be based on October 2021 rental property values.
More details and contacts for further information can be found at NI Reval2023