Non-domestic (business) properties are normally assessed every five years and given new rateable values. The last revaluation came into effect on 1 April 2010. All business properties had their rateable values reassessed based on a valuation date of 1 April 2008.
However, the Scottish Government announced on 27 November 2012 that the next revaluation has been postponed until 2017 to allow time for a comprehensive review of the Non-Domestic Rates system.
The key purpose of revaluation is to update rateable values of non-domestic (business) properties to reflect current rental levels. This provides for a closer, fairer link between property values and the amount paid by individual ratepayers.
Any reduction or increase in rateable value is determined by the Assessor's independent assessment of what your property would fetch in rent if available on the open market on 1 April 2008.
The date is fixed two years before the date that valuations become effective so that information to support the process is available. It ensures fairness for all ratepayers.
Further information regarding revaluation, including revaluation leaflets and a rates calculator can be found on the Scottish Government's website. Additional information can also be found on the Ayrshire Valuation Joint Board website.