Revaluation is the regular review of the rateable values of all business and non-domestic properties. Assessors are required by law to carry out a revaluation of such properties periodically. New rateable values arising from the most recent revaluation took effect from 1 April 2023.
The Assessor must determine a Net Annual Value for every non-domestic property. In broad terms, the Net Annual Value is the Assessor’s assessment of the annual rent for a property, on the assumption that it was available on the open market on a set date. Rateable Value is derived from the Net Annual Value and for the majority of properties Rateable Value and Net Annual Value are the same. The values for the 2023 revaluation are based on a valuation date of 1 April 2022 and reflect market conditions that existed at that time.
Details of rateable values of properties in Scotland are available on the Scottish Assessors’ Association website at www.saa.gov.uk
You can check the rateable values of properties in Scotland by using the Rateable Value search facility on that site. This can be accessed from the SAA Home Page and from each individual Assessor’s Home Page.
The final date for lodging proposals in connection with the 2023 Revaluation is 31 July 2023. The Assessor and his staff will be dealing with those received after that date.
If you have any questions about the progress of your proposal please contact us to discuss the matter.
Scottish Government Rates Calculator
The rateable value is used to calculate any liability for payment of rates. To calculate your bill you will need to multiply the rateable value by the poundage set by the Scottish Government and apply any relief’s to this.
Further information and a rates calculator is provided by the Scottish Government at www.scotland.gov.uk/revaluation