Question reference: S6W-13021
- Asked by: Mark Griffin, MSP for Central Scotland, Scottish Labour
- Date lodged: 8 December 2022
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Current status: Answered by Tom Arthur on 20 December 2022
Question
To ask the Scottish Government what assessment it has made of the impact of current rates of inflation for the construction industry on the non-domestic rates revaluation of public sector properties, based on rebuild costs.
Answer
The valuation of non-domestic properties is a matter for Scottish assessors who are independent of central and local government. The tone date for the 2023 revaluation was 1 April 2022, therefore values for the revaluation will be based on the economic circumstances and evidence available at this date. The current rates of inflation do not have a bearing on values for the 2023 revaluation.
The Scottish Budget 2023-24 was published on 15 December 2022 and confirmed that the poundage will be frozen at 49.8p. A Revaluation Transitional Relief will also be introduced to cap increases in rates bills for those seeing the most significant increases in their rateable values as a result of the revaluation, ensuring that the gross bills of an estimated 84,000 properties will be lower in 2023-24 than they otherwise would have been.
Draft values for the 2023 revaluation were published on 30 November 2022, and final values will come into force on 1 April 2023. A revaluation summary report is expected to be published in 2023-24 once final values for the revaluation have been made available.