NI Reval2023 - Setting of Decapitalisation Rates

Consultation opened on 20 October 2021. Closing date 15 December 2021.


The Department of Finance, Land & Property Services has completed a consultation exercise on a technical valuation matter relating to the ongoing Northern Ireland Revaluation of Non-Domestic properties (NI Reval2023).


Consultation description

This consultation closed on Wednesday 15 December 2021. In total, the consultation received 12 responses, 11 of those responses were representative bodies and 1 general response from an individual ratepayer. The individual responses to the consultation can be found at NI Reval2023 - Setting of Decapitalisation Rates - consultation responses.

The consultation related to a valuation methodology known as the Contractor’s Basis. This methodology is used to value properties such as schools, universities, hospitals, fire and police stations, halls and airports, amongst others. The consultation specifically sought views on the methodology to be used in the setting of decapitalisation rates within the Contractor’s basis of valuation.

The consultation was published on the consultation pages of the Department of Finance and also on nidirect Citizen Space. A public announcement was published in the Belfast Telegraph, Irish News and the News Letter.

The consultation was also publicised on the Department’s Social Media outlets. Respondents were able to submit their views and comments by paper, email or online.



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