Businesses Urged To Participate In Rates Revaluation Exercise

Businesses across Northern Ireland have been urged to participate in a rates revaluation exercise to help inform future bills.

Finance Minister Dr Caoimhe Archibald MLA made the call ahead of the issuing of Reval2026 letters, inviting them to submit rental and other market evidence to Land & Property Services (LPS).

The information will contribute to the creation of a new non-domestic valuation list which will be used for the calculation of business rates from April 2026.

Minister Archibald said: "This year local businesses have contributed around £690 million in rates which helps fund vital public services including education, emergency services, leisure facilities, tourism and waste management. "Reval2026 provides businesses an opportunity to have their say and ensure the accuracy and fairness of their bills in the new valuation list. The overall amount raised through rates will not change directly as a result of Reval 2026. A revaluation is about maintaining fairness within in the rating system and to do this we need up to date information.

"I encourage all business ratepayers to reply to LPS requests for information in relation to Reval 2026. Completing the questionnaire is simple and Land & Property Services has experienced valuers available to help any business owner who needs advice."

The deadline to complete and return the Rent and Lease questionnaire is 30 June 2024. Businesses are encouraged to act now and return the information requested. The easiest way for businesses to submit their information is online and by visiting the Reval2026 page.