REVAL 2020 NORTHERN IRELAND
REVIEW, APPLICATION AND APPEAL, WE'VE GOT YOU COVERED
What is Reval 2020?
Land & Property Services (LPS) are undertaking a General Revaluation of all commercial property (known as Reval 2020). This will see all non-domestic property in Nothern Ireland valued and a new Net Annual Value placed on each property. The level of value placed on a property is the value the property would have let on the open market on 1 April 2018.
The draft schedule of values will form the basis of the 7th General Revaluation List that will come into force from 1 April 2020. At which point corresponding rates bills will be issued.
Now is the time to act, prepare a valuation of your own and be engage with LPS should you feel the draft valuation is excessive.
How we can help?
We offer a comprehensive beginning to end business rates consultancy service. Having spent time in Land & Property Services, our surveyors have a working knowledge of the local district valuers office and a working relationship with key stakeholders within the organisation. We are a firm of Chartered Surveyors Regulated by the Royal Institution of Chartered Surveyors (RICS).
Our service offers a three-stage process:
First, a review of your current (2015) and potential (2020) rateable valuation (net annual value), including rates payable. We will do background checks on your behalf, inspect your premises, provide an opinion of rateable value and report our findings.
Second, having considered the conclusions and the draft Reval 2020 rateable value, we will take instruction from you to either proceed with an Application to the district valuer or monitor the situation until you advise otherwise.
Third, subject to the outcome of making an Application, we will take instruction from you to Appeal the decision of the district valuer to the Commissioner of Valuation.
What is an Application?
Ratepayers have access to a redress mechanism and the first stage of which is an Application to District Valuers for Revision of the Valuation List. This is an opportunity to engage with a representative of the district valuer and put your case forward in support of a change to the Net Annual Value.
What is an Appeal?
In the circumstances where a ratepayer is unhappy with the outcome of an Application to the district valuer, there is a further redress mechanism known as an Appeal to the Commissioner of Valuation. This is an opportunity to engage with the Commissioner and put forward contentions for a change to the Net Annual Value placed on the property by the district valuer.
What is an Appeal to the Lands Tribunal?
If a ratepayer is unhappy with the outcome of an Appeal to the Commissioner of Valuation, there is an opportunity to appeal to the independent Lands Tribunal for Northern Ireland. Appeals are heard by the Member for the Lands Tribunal and the hearing is a formal process.
Our Experts have experience of preparing submissions and providing Expert Witness evidence to the Lands Tribunal.
We can support you all the way from the initial review stage to the Lands Tribunal.
Currently, you have an excellent opportunity to look at the current rates payable and complete your investigations to ascertain the potential impact of the up-and-coming general revaluation. With Reval 2020 on the horizon, we will provide the necessary support you need during the draft valuation list and post 1 April 2020, when the new valuation list comes into force.
We would welcome the opportunity to discuss this with you either over the phone or in person. We offer a no-obligation consultation and fees would only present themselves if we were to go down the appeal route and achieve rates savings.