It may sound a little dull, but it is important! The Local Government Finance (Wales) Bill was introduced in the Senedd in November 2023. The Bill will deliver most of the proposals for NDR reform set out last year in their consultation on NDR reform. These proposals included more frequent revaluations and measures required to deliver them, as well as wider improvements to enable the Welsh Government to better adapt the NDR system to meet the needs of Wales. In relation to NDR, the Bill will:
· increase the frequency of revaluations to three-yearly; · enable the revaluation cycle to be altered using regulations; · change the way ratepayers provide information to the Valuation Office Agency (VOA), to ensure more frequent revaluations are sustainable in the long-term; · enable the Welsh Government to confer, vary or withdraw reliefs and exemptions, and to prescribe differential multipliers, using regulations; · strengthen the eligibility conditions for charitable relief for unoccupied properties; · remove a timing restriction on the awarding of discretionary relief by local authorities; · expand the definition of a new building for the purpose of the serving of completion notices by local authorities; and · enable the counteraction of advantages arising from artificial avoidance arrangements specified in regulations.
They will provide further information about the implementation of these reforms during and following consideration of the Bill by the Senedd.
There is almost definitely going to be an impact on larger properties as many will inevitably break the threshold at the high end. It follows the consultations on the Reform of non-domestic rating in Wales and A Fairer (Domestic) Council Tax Consultation. Rebecca Evans has already announced they want this all delivered from April 2025.