AQW 39077/22-27

Miss Nuala McAllister
Alliance Party
North Belfast

Tabled Date: 26/01/2026
Answered On Date: 27/02/2026
Priority Written: No

Question:
To ask the Minister of Finance to detail whether (i) underinvestment in; or (ii) delay of, major public capital projects is taken into account with regards to environmental impact factors, for Net Annual Value assessment.

Answer:

I can confirm that neither underinvestment in, nor delays to, major public capital projects are taken into account when assessing Net Annual Value (NAV).

Non‑domestic rating valuations are carried out under the Rates (Northern Ireland) Order 1977. Under Schedule 12 of that Order, the basis of assessment is a rental value at a single, fixed statutory valuation date. Valuers are required to estimate the rent a property could reasonably be expected to command on the open market at that valuation date, and only evidence relevant to that statutory test may be considered.

On 29 January, having listened to concerns raised following publication of the draft list, I announced my decision to stop the Reval 2026 process. I would refer the Member to my oral statement and assembly debate of 2 February.

Finance Minister Oral Statement - Reval 2026 | Department of Finance

Official Reports