Northern Ireland opts for capital value domestic rating
Northern Ireland opts for capital value domestic rating
- 2003
- IRRV Insight (5.5) January/February 2003, 8(1) .
Northern Ireland is to adopt a new rating system for valuing domestic properties: houses will be assessed by their market value, not their rental value. The new system is expected to come into force in 2006. Consultation by the Northern Irish government showed that many bodies were in favour of a new system based on a property's market value. The responses and public consultation report are available in full on the Rating Policy website, http://www.nics.gov.uk/ratingpolicy/.
NORTHERN IRELAND
RATING SYSTEM
MARKET VALUES
RENTAL VALUES
Northern Ireland is to adopt a new rating system for valuing domestic properties: houses will be assessed by their market value, not their rental value. The new system is expected to come into force in 2006. Consultation by the Northern Irish government showed that many bodies were in favour of a new system based on a property's market value. The responses and public consultation report are available in full on the Rating Policy website, http://www.nics.gov.uk/ratingpolicy/.
NORTHERN IRELAND
RATING SYSTEM
MARKET VALUES
RENTAL VALUES