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Non-domestic Rates Revaluation

Non-domestic properties are normally assessed every five years and given new rateable values, based on rental values, for the purpose of calculating liability for non-domestic rates (also known as business rates).

Revaluations do not raise extra revenue.

A revaluation was scheduled for 2015. However, due to economic conditions and following a decision by UK Government to delay the revaluation in England, a decision was taken by the Welsh Ministers to postpone the date of the next revaluation in Wales until 2017. The new rating list will come into force on 1 April 2017.

Revaluations do not raise extra revenue overall. Instead, revaluations reflect changes in the property market across the country, and therefore redistributes the same total tax liability for non-domestic rates. 

Some rates bills will rise and some will fall, but legislation means the average national bill will only change with inflation.