Page 2 - Shepherd Ratings Brochure 2022/23

2023 Revaluation – Q&A
What is a a a a a Rateable Value?
All non-domestic property is assessed and given a a a a a a Rateable Value Rateable Values are subject to Revaluation Revaluation The last two Revaluations were in in 2010 and 2017 but the Scottish Government has now introduced legislation to introduce introduce Revaluations at at at three yearly intervals starting from 1st April 2023 In broad terms the the Rateable Value of a a a a a a a a property is supposed to reflect the the annual rent that that might be achievable for that that that property at at at at at at at a a a a a a a a a a a a a a a a particular valuation valuation valuation date date For the 2023 Revaluation that that valuation valuation valuation date date is 1st April 2022 Who sets the Rateable Value?
The The local Assessor Assessor There are 14 Assessors covering covering the the whole of Scotland – 4 4 covering covering one council council area area each each and and the the remaining 10 each each covering two or or more council council areas How is a a a a a Rateable Value assessed?
Different types of property are assessed in in different ways according to Practice Notes prepared by the the Assessor Most properties are are are assessed based on on their location floor area and physical characteristics but many (the likes of schools hospitals etc) etc) are are assessed assessed on a a a a a a a a a a a a a cost basis and others (pubs hotels etc) etc) are are assessed assessed having regard to their hypothetical achievable turnover Is the Rateable Value what is payable?
No The Rateable Value is is is a a a a a a a a a vital component of what is is is payable payable in in non-domestic rates rates but it it is is is not the amount payable payable in in rates The Rateable Value of a a a a a a a a property is is multiplied
by a a a a a a a a a a a a a a a rates rates poundage (which is is is subject to to change each year) to to arrive at at at the the the the rates rates payable There is is is is then the the the the issue of eligibility or or or otherwise for for relief – which can be a a a a a a a a a lot less straightforward than it it might appear at first glance Can a a a a a a a a a a Rateable Value set at at at a a a a a a a a a a Revaluation be challenged or appealed?
Yes within a strictly prescribed time period Should a a a a a a a a a Rateable Value set at at at a a a a a a a a a a a Revaluation be challenged or appealed?
Each case is different but careful consideration should be given to challenging or or appealing the the the the Rateable Rateable Value Value set by the the the the local Assessor Remember that that the the the the the Rateable Rateable Value Value is the the the the the only part part of the the the the the rates liability calculation that that that can be challenged so it it is the the the only part part that that the the the ratepayer can hope to have reduced What about if my Rateable Value reduces? Should I just accept it?
It is possible that the the Rateable Value of a a a a a a a a property might reduce at at at at at at at the the the 2023 Revaluation However that that does not not mean that that the the Rateable Value is still still not not higher than it could or or should be be so an an an appeal may well still still be worthwhile