Please find below some information which may be of interest regarding the challenge process for the new valuations.
Businesses have a 5 week window to query or appeal the valuation
Generally retail has been given a downward trend, hospitality is significantly up but I would encourage hospitality to contact the LPS as this is based on turnover and if you disagree then need to provide evidence of the figures.
Business owners can logon to the site and review the draft – if they have any query regarding their valuation there is still time to have this reviewed but it is up to the individual business to contact LPS directly.
LPS Valuation offices, can be contacted using the following numbers:
Tel: 0300 200 7801 (charged at local rate)
There are a number of information seminars taking place over the next few weeks and I would encourage you to attend and also forward this information on to the organisations that you work with.
Details are available at this link – https://www.finance-ni.gov.uk/articles/reval2020-information-events
If anyone is unsure how their NAV is calculated there is a series of videos which outline the process at the following link https://www.finance-ni.gov.uk/articles/about-reval2020#toc-1