Menu
18/03/2008
NI Business Rates Reviewed
Commercial properties in Northern Ireland are to undergo a rates revaluation in the coming months.
Land & Property Services (LPS), an agency of the Department of Finance & Personnel, will be contacting occupiers of commercial premises later this month as part of the non-domestic rating revaluation announced by the Finance Minister, Peter Robinson in July last year.
Commenting on the issuing of the 'Forms of Return' seeking rental information, Mr Robinson pointed out that it was important to have the most up to date information.
He said: "Revaluation is an essential component of the property taxation system, ensuring that rates liability is fairly distributed across all sectors in line with current rental values.
"By providing the information requested by LPS commercial ratepayers will ensure that the values assessed are accurate and fair."
David Rainey, Commissioner of Valuation for Northern Ireland, and responsible within LPS for carrying out the revaluation explained: "We are carrying out the revaluation to achieve a fair and equitable distribution of the rate levy.
"We are contacting commercial ratepayers throughout Northern Ireland seeking information on the properties they occupy. This information is important to ensure that our assessments are accurate, up to date and based on market values as at April 2008."
Business rates are a long established local property tax levied on all non-domestic ratepayers, proportionate to the individual rental value of each property and it is necessary, to periodically re-value the entire stock of non-domestic property. The last revaluation took place in 2003 using 2001 rental values - the one before that was 1997.
A dedicated helpline will be in place to assist ratepayers with any queries they may have regarding completion of the 'Form of Return'.
(BMcC)
Land & Property Services (LPS), an agency of the Department of Finance & Personnel, will be contacting occupiers of commercial premises later this month as part of the non-domestic rating revaluation announced by the Finance Minister, Peter Robinson in July last year.
Commenting on the issuing of the 'Forms of Return' seeking rental information, Mr Robinson pointed out that it was important to have the most up to date information.
He said: "Revaluation is an essential component of the property taxation system, ensuring that rates liability is fairly distributed across all sectors in line with current rental values.
"By providing the information requested by LPS commercial ratepayers will ensure that the values assessed are accurate and fair."
David Rainey, Commissioner of Valuation for Northern Ireland, and responsible within LPS for carrying out the revaluation explained: "We are carrying out the revaluation to achieve a fair and equitable distribution of the rate levy.
"We are contacting commercial ratepayers throughout Northern Ireland seeking information on the properties they occupy. This information is important to ensure that our assessments are accurate, up to date and based on market values as at April 2008."
Business rates are a long established local property tax levied on all non-domestic ratepayers, proportionate to the individual rental value of each property and it is necessary, to periodically re-value the entire stock of non-domestic property. The last revaluation took place in 2003 using 2001 rental values - the one before that was 1997.
A dedicated helpline will be in place to assist ratepayers with any queries they may have regarding completion of the 'Form of Return'.
(BMcC)
Related Northern Ireland News Stories
Click here for the latest headlines.
12 January 2023
Land & Property Services Publish Reval2023
Land & Property Services (LPS) has published the latest Reval2023, containing the draft valuations of almost 75,000 businesses across Northern Ireland. The revaluation process will result in a new non-domestic Valuation List being used to calculate business rate bills from April 2023.
Land & Property Services Publish Reval2023
Land & Property Services (LPS) has published the latest Reval2023, containing the draft valuations of almost 75,000 businesses across Northern Ireland. The revaluation process will result in a new non-domestic Valuation List being used to calculate business rate bills from April 2023.
20 November 2024
DAERA Minister Confirms Commitment to Deposit Return Scheme
DAERA Minister Andrew Muir has reaffirmed his commitment to introducing a Deposit Return Scheme (DRS) in Northern Ireland. The DRS is designed to encourage recycling by offering a monetary incentive for returning single-use drinks containers. The scheme will cover PET plastic, steel, and aluminium containers ranging from 150ml to 3 litres.
DAERA Minister Confirms Commitment to Deposit Return Scheme
DAERA Minister Andrew Muir has reaffirmed his commitment to introducing a Deposit Return Scheme (DRS) in Northern Ireland. The DRS is designed to encourage recycling by offering a monetary incentive for returning single-use drinks containers. The scheme will cover PET plastic, steel, and aluminium containers ranging from 150ml to 3 litres.
05 December 2012
DSD To Take Direct Control To Develop Bangor's Queen's Parade Area
Social Development Minister Nelson McCausland has announced his Department's intention to take direct control of plans to develop Bangor's Queen's Parade Area. The move will see the Department for Social Development (DSD) purchase the land portfolio owned by Karl Greenfarm Properties Limited.
DSD To Take Direct Control To Develop Bangor's Queen's Parade Area
Social Development Minister Nelson McCausland has announced his Department's intention to take direct control of plans to develop Bangor's Queen's Parade Area. The move will see the Department for Social Development (DSD) purchase the land portfolio owned by Karl Greenfarm Properties Limited.
28 August 2012
Substation Vandals Leave 6,000 Properties Without Electricity
Northern Ireland Electricity (NIE), the network company, has strongly condemned the deliberate interference with electricity equipment in the Ballysillan area on Sunday and Monday nights. Vandals broke into the substation after 11pm on Sunday night, interfering with equipment and leaving over 6,000 properties without power.
Substation Vandals Leave 6,000 Properties Without Electricity
Northern Ireland Electricity (NIE), the network company, has strongly condemned the deliberate interference with electricity equipment in the Ballysillan area on Sunday and Monday nights. Vandals broke into the substation after 11pm on Sunday night, interfering with equipment and leaving over 6,000 properties without power.
30 April 2010
Belfast Lettings Market Grows
Northern Ireland's boom-bust property market has sparked a major shake-up in Belfast's private rented sector. This has produced a generation of 'reluctant landlords' but better-quality accommodation for a growing number of renters, according to a new research report.
Belfast Lettings Market Grows
Northern Ireland's boom-bust property market has sparked a major shake-up in Belfast's private rented sector. This has produced a generation of 'reluctant landlords' but better-quality accommodation for a growing number of renters, according to a new research report.
-
Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
