AQW 41882/11-15

Ms Claire Sugden
Independent
East Londonderry

Tabled Date: 06/02/2015
Answered On Date: 26/02/2015
Priority Written: No

Question:
To ask the Minister of Finance and Personnel for his assessment of whether people who will see an increase in their rates through Reval 2015 NI will be those who have suffered the consequences of the recent recession most heavily.

Answer:

The current Valuation List was compiled in 2003 based on 2001 rental values and the updating of these values is long overdue. The purpose of the revaluation is to achieve a fairer redistribution of the rating burden amongst non domestic ratepayers using up to date market rental values.

These new values reflect current economic conditions and the relative success or decline of trading locations and sectors of business. Clearly this has been affected by the recession but the changes that are picked up by the Revaluation go further back than this to 2001.

Generally speaking, locations and sectors that have not fared so well over this longer period should experience a reduction in rate liability rather than an increase.