Rates revaluation of local businesses

Land & Property Services (LPS), part of the Department of Finance has contacted over 4, 500 business ratepayers in the Mid and East Antrim Borough Council area to collect rental data for the non-domestic rates revaluation - Reval2020. Alan Bront�, LPS, Commissioner of Valuation for Northern Ireland pictured with Tracy Flannigan, RICS Northern Ireland Commercial Property spokesperson.
Land & Property Services (LPS), part of the Department of Finance has contacted over 4, 500 business ratepayers in the Mid and East Antrim Borough Council area to collect rental data for the non-domestic rates revaluation - Reval2020. Alan Bront�, LPS, Commissioner of Valuation for Northern Ireland pictured with Tracy Flannigan, RICS Northern Ireland Commercial Property spokesperson.

Land & Property Services has contacted over 4,500 business ratepayers in the Mid and East Antrim Borough Council area to collect rental data for the non-domestic rates revaluation – Reval2020.

This includes approximately 575 offices, 1,125 shops, 645 warehouses and 265 factories in the council area.

Business ratepayers and their advisors must now provide rental evidence to LPS.

In 2017/2018, business rates in the Mid and East Antrim Borough Council area generated over £41 million to help fund local and regional services.

Letters explaining how ratepayers can submit information have been sent to occupiers of commercial premises.

Most ratepayers will be able to submit their details online. LPS will use this information to analyse the current market and assess the rental value of every rateable property. The new values will be used to calculate individual business rate bills from 1 April 2020.

Alan Brontë, Commissioner of Valuation for Northern Ireland, said: “This is a key stage in the process of revaluing properties occupied by businesses and other bodies. I would urge all business ratepayers in Mid and East Antrim Borough Council area to submit the necessary information to enable us to ensure their business rates are accurate.

“Regular revaluations maintain fairness in the rating system by ensuring business rates adjust to reflect changes in the property market.”

Further information and the online Rent and Lease Questionnaire can be found at www.finance-ni.gov.uk/reval-2020-ni A helpline (0300 200 7801) is in place to help ratepayers with any queries regarding completion of the questionaire.