A Revaluation is a regular, usually 5- yearly, reassessment of all non- domestic properties. It applies to all land and any buildings on those lands unless the class of property is expressly exempted by law. The most common exemptions are Agricultural Lands and Domestic properties; the latter group is instead liable to Council Tax.
The last Revaluation was in 2010 and the Revaluation due in 2015 was postponed to 2017 by the Scottish Government and, for England & Wales, the UK Government. Revaluation results in the production of a new Valuation Roll which contains new business rates valuations for all non domestic properties in the Assessor’s area.
Following a Revaluation, business rates valuations will generally remain unchanged until the next Revaluation; unless the property is altered or other changes take place. Assessors are responsible for the valuation of the various properties. The collection of Rates and the administration of exemptions and relief is the responsibility of the Director of Finance within each Council.
Valuation Notices: on or about the 15th March 2017, notices intimating the final 2017 Revaluation Roll entries will be issued to all interested parties (the Proprietor, Tenant and Occupier) for each entry in the Revaluation Roll.