Business rates: the basics
How business rates are calculated
Your rate bill is made up of a number of parts including the regional rate, the district rate and Net Annual Value (NAV). Your rate bill is calculated by multiplying the NAV of your property by the non-domestic rate poundage (non-domestic regional rate + non-domestic district rate) for your council area for the relevant year (as shown below):
Regional and district rates
The regional rate is set annually by the Northern Ireland Executive and is applied to each district council area in Northern Ireland. The district rate is set annually by each district council in Northern Ireland.
Net Annual Value
Rates for non-domestic or business properties are assessed on their rental value, also known as the Net Annual Value (NAV). NAV is an assessment of the annual rental value that your property could reasonably be expected to be let for if it was on the open market. Each non-domestic property is valued in line with comparable properties in the vicinity.
The current valuation list for non-domestic properties came into operation on 1 April 2020 and is based on rental values as at 1 October 2021.
Find a property valuation for your business premises.
View your estimated rate bill
You can view an estimate of a full annual rate bill for the current rating year by inputting the address information using the LPS online valuation search.
Queries on your business rates
If you have a query regarding business rates or are unsure of your outstanding bill you should contact Land & Property Services.
The short video below explains the revaluation process, known as Reval 2023, and how LPS calculate business rates. Reval 2023 is now complete. The revaluation process created a new valuation list which took effect on 1 April 2023, which will be used to calculate business rate bills from April 2023.