The Valuation Acts 2001 to 2020 provide that all buildings used or developed for any purpose are rateable unless expressly exempted under Schedule 4 of the Acts.
A review was initiated in 2019 to examine the underlying policy rationale relating to the inclusion of categories of relevant property in Schedule 3 and Schedule 4 of the Valuation Acts 2001 to 2020.
The purpose of the review was to examine the underlying policy rationale and to assess the likely effects, costs and benefits of any proposed changes in categorisation.
My Department has an overarching objective to ensure the sustainable funding of local authorities. As commercial rates provide an important source of funding for local services any recommendations arising from the review must support that sustainability requirement.
The work of the group is ongoing.