Non-domestic (business) properties are normally assessed every five years and given new rateable values. A revaluation came into effect on 1 April 2017 and all business properties had their rateable values reassessed and the new amount reflects the rental value on 1 April 2015.
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 2015.
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.