This typically increases revenue in the first year of a revaluation (2023-24 and 2026-27) when few appeals have been resolved and reduces revenues in 2027-28 and 2028-29 as any successful appeals (from the ratepayers’ perspective) are resolved in later years of the cycle. • Contributable NDR revenue is forecast net of national reliefs such as the transitional relief policies linked to the 2023-26 revaluation cycle which are assumed to expire in 2025-26 as set out in the Budget 2023-24, thus increasing NDR revenues from 2026- 27. • The NDR forecast also contains a long-run assumption for growth in the tax base which increases forecast NDR income over the forecast period.