The Department of Finance Land & Property Service (LPS) recently held an information event in Lisburn in conjunction with the local Chamber of Commerce.
The results of REVAL2020, the business rates revaluation have now been made public and local businesses attended to learn more about the process and its implications.
LPS Regional Valuer, Sharon Magee presented an overview of the revaluation process and took questions from the floor.
The draft schedule of valuations is now online and this will allow business ratepayers and their representatives to see their new valuations as early as possible and to talk with LPS about their valuation, if necessary, before it is used to calculate their rate bill, which is issued on April 1.
Chamber President, Garry MacDonald commented: “The Chamber has carried out some initial research into the impact the new NAV values will have on Lisburn businesses and it appears that many in the retail sector have seen no change or a reduction. However there are some major increases for some and we would encourage our members to go online and check their new NAV valuation as a matter of urgency.”