What does this mean for you?
If you are a ratepayer, you have six months to appeal against your 2017 rateable value.
Your 2017 valuations span up to a 6-year period from 1st April 2017, and if left unchallenged, they will remain at their current level for the entirety of the list. Should you consider your liability to be excessive or would like to have the assessment reviewed, you now have six months to submit a check, the first stage of the appeal process on your rateable value. If the property has been overvalued by the Valuation Office Agency (VOA), you may be due a rebate on rates paid from 1st April 2017.
Once the Check has been lodged, the case can then be discussed with the Valuation Officer after this date, and your position will be protected back to the beginning of the list or a later date if you acquired the property after 1st April 2017.
Why is the deadline on the 31st March 2023?
The Government has announced this date as the appeal deadline, which is also the last day of the current rating list.
The Valuation Office Agency will have a further 12 months, up until the 31st March 2024, to make any changes to the 2017 rating list on their own accord. If you disagree with any changes made by the VOA, you have the right to appeal this change within six months of the alteration notice being issued.
What happens after 1st April 2023?
The Government will provide you with a new rateable value, which will span a 3-year period, up until 31st March 2026. From the 1st April 2023, we can appeal your new 2023 rateable value. In the meantime, we await an announcement of the 2023 rateable values. The Valuation Office Agency are on track to produce the draft figures in December this year, so you should have transparency over what your new rateable value will become on 31st March 2023.
The rate payable and transitional thresholds will be announced early in the new year, and only then will ratepayers have clarity on what their revised liability will be come April.
What should you do now?
Check if your 2017 rateable values have been reviewed and appealed if appropriate. Please feel free to get in touch if you are unsure or require any further information on this.