THE proposed rating revaluation of non-domestic properties in Northern Ireland will proceed in 2015, Finance Minister Sammy Wilson said yesterday.
Mr Wilson said that he planned to proceed with the programme despite an announcement by the government at Westminster that the non-domestic revaluation in England, planned originally for 2015, is going to be postponed until 2017.
Mr Wilson announced on 5 April 2012 that the Executive had agreed that preparations need to be put in place to undertake a revaluation of business premises which would come into effect in 2015, aligning with the rest of the UK.
Yesterday he said that remained the case.
“The circumstances in England are different to Northern Ireland including that they completed a revaluation exercise in 2010 and 2005. Northern Ireland has not undertaken a non domestic revaluation in almost nine years the last one being 2003.
“The Executive made a decision to undertake the revaluation in 2015 agreeing that should a revaluation be delayed beyond 2015, the credibility of the business rates system would be drawn into question. Charging businesses a local tax based on 2001 rental values would simply not be acceptable.
“I have been engaged in continual discussion with businesses up and down Northern Ireland as part of the review of commercial rating over the last two years. This engagement has convinced me that revaluation can and should proceed for Northern Ireland as planned.”
Preliminary work, he added, was already underway and is due to be completed late in 2014, to come into effect on April 1, 2015.
“However, before reaching my final decision I want to consider the full range of issues, including advice from both the DFP Committee and Land & Property Services. An announcement will be made shortly.”