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The new rating list will come into force on 1 April 2005.
The Valuation Office is hoping to complete all valuations, (based on the antecedent valuation date of 1 April 2003) by 31 May 2004.
It is intended that the new list will be published on the internet on 1 October, and Valuation Summaries will be posted to all occupiers of "bulk class" properties on 4 October 2004. Bulk Class properties are shops, offices, warehouses and factories. It is not envisaged that the occupiers of public houses or other more unusual premises will be sent a copy of the calculations that make up their rating assessment.
This revaluation is intended to be more accessible by members of the general public and other interested parties, who will be able to log onto the Valuation Office website and search for the details of the valuation of comparable properties. In addition, where an appeal has been made against a particular property, which can only happen after 1 April next year, the website will indicate that fact.
As yet the Government has not indicated the likely level of the Uniform Business Rate (the rate in the pound), but the most recent estimates are for a figure of between £0.40 and £0.415. The current UBR is £0.456.
Neither has the Government issued any guidance on the transitional regulations, although it is committed to retaining some form of phasing. We anticipate their form will largely mirror the existing regulations, but it is likely that the steps upwards, or downwards, will be greater than those published for the 2000 rating list.
We will publish further information on these matters, once they become available.
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