Rating Revaluation in 2023

The Financial Secretary to the Treasury, Jesse Norman, has made a written statement on 21 July, announcing that the next rating revaluation in England will take effect from 1 April 2023, and will be based upon values at 1 April 2021. This revaluation replaces one that was due to take effect from 1 April 2022 based upon property values at 1 April 2019. The government statement says that the change in date will allow the revaluation better to reflect the effects of Covid 19 on property values.

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Bingo hall assessment confirmed

The Upper Tribunal (Lands Chamber) has considered the valuation for rating purposes of a bingo hall which had been reduced in size. The Tribunal found that, because the original valuation was based on the receipts generated by the property, a change in floor area would not result in a change in valuation, unless it could be shown that the receipts at the valuation date would also have altered as a result of the change to the property. The ratepayer had not shown any such reason and its appeal was dismissed. ...Read More

Valuation of fibre optic network confirmed

The decision of the Upper Tribunal (Lands Chamber) in Interoute Vtesse Ltd (formerly Vtesse Networks Ltd) v Gidman (VO) concerns the valuation for rating of an unusual type of property, an electronic communications network, but sets out some important general principles regarding valuation methodology and the application of European Union law to business rates. ...Read More

Proposed 2021 rating revaluation deferred

The Communities Secretary, Rt Hon Robert Jenrick MP, has announced that the rating revaluation that was proposed to come into force on 1 April 2021, has been postponed. The legislation to bring forward the date of the revaluation from 2022 to 2021 is to be withdrawn. ...Read More

Value of tenant’s alterations to offices

The Upper Tribunal (Lands Chamber) has considered the valuation of tenant’s alterations in its decision in The Appeal of Jackson (VO). In this case, it found that the installation of an internal staircase linking two floors in a multi-let office building was “value-neutral”, that is to say it neither increased nor decreased the value of the whole property. But the Tribunal warned that this is an area of valuation where each case has to be considered on its own merits. ...Read More