Guide

How business rates valuations are calculated

Business rates: valuation of a new property

Rates assistance for businesses impacted by COVID-19

The Finance Minister has announced a further £213 million of business rates support in addition to the emergency £100 million rates package to assist businesses impacted by COVID-19. Find out more about COVID-19: Emergency rates package for businesses.

When a property is newly built, it must be valued before a rate bill can be issued. The process generally starts when Land & Property Services (LPS) receives notification from your local council's building control offices that a new property is under construction.

While still under construction LPS may issue a completion notice to the owner of the property when it is deemed the property is capable of being completed within three months. The property will be valued from the date specified in the completion notice. If the property remains vacant after that date, rates will not be charged for the first three months, following which the owner will be charged for vacant rates at 50 per cent. Once occupied, it will be charged occupied rates at 100 per cent.

Rate bill issued

When a property is occupied LPS may contact the occupier to find out when the property was occupied before a rate bill can be issued. Full rates are payable when a property is occupied.

Making an application to have your new property valued

You can apply online to have your new property valuation assessed or alternatively you can download the LPS CR3 application form (PDF, 1.6MB).

The CR3 application form is a writable document, which means you can complete the form on screen, print it off and send to your local LPS valuation office. Alternatively you can save the document to your desktop, complete the form and send as an email attachment to your local valuation office. If you have any queries about having your property valued, you should contact your local LPS valuation office.

Contact details for your local LPS valuation office.

Please note: Following government measures announced to limit the spread of COVID-19, Land & Property Services offices and phone lines have been closed since 24 March. LPS Customer Information Centres remain closed until further notice. The Ordnance Survey helpline remains closed until further notice, urgent queries can be directed to Mapping.Helpdesk@finance-ni.gov.uk. Helplines for rating and valuation, housing benefit and rates relief reopened on 18 May 2020. The land registration helpline will reopen on 26 May 2020.

Closures will be kept under regular review in line with further Government announcements. Further information on service updates and reaching LPS by email will be available on the LPS website.