More than 74,500 non-domestic properties across Northern Ireland were revalued with new rateable values, based upon an estimate of open market rents as of 1 October 2021.
The new rateable values were then used to calculate business rates liabilities from 1 April 2023.
Revaluations are not carried out to generate any extra revenue. They redistribute the total amount of business rates and ensure the rating system remains fair and current, by taking account of economic and relative changes, in rental levels, which have occurred since the last revaluation. The last revaluation before NI Reval2023 took place in 2020.
Ratepayers can view their property valuation by via the Valuation Lists webpage.
Key Dates to remember
- 1 October 2021: This is the valuation date for NI Reval2023. LPS sought rental information close to the valuation date. The information provided has been analysed to produce new rateable values.
- 1 April 2023: New rate bills issued. These will be based on October 2021 rental property values.
Frequently Asked Questions