Non-Domestic Revaluation 2020 Valuation

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Property ID 761836 Address Unit 1 Ballyardle Business Park, 27 Dunnaval Road, Dunnaval, Kilkeel, Newry BT34 4JT Primary Class Warehouses,Stores,Workshops,(Non-IND) Garages NAV £12,300 Summary Valuation Floor Description / Use Area (m2) Rate (£ per m2) Total (£) Distinguishment GF WRHSE 387 18.70 7,241 OT GF WRHSE 247 20.57 5,075 OT Explanatory Notes Valuation List A list of all known Net Annual Values in Northern Ireland. The information recorded in the List is used to work out what rates (if any) are due on a particular property. Property ID This is a unique property identifier, you can find it on your Rate Bill or Valuation Certificate. Net Annual The Net Annual Value (NAV) is an assessment of the annual rental Value (NAV) value of the property. The NAV is assessed at a fixed point in time, which is 1st April 2018. Business rate bills are calculated by multiplying the NAV of a property by the Total Non Domestic rate in the pound for the council area in which the property is located. Summary This is the breakdown of the main valuation elements of the NAV. In Valuation some cases the NAV does not equal the total of the Summary Valuation as other valuation elements are not currently displayed here. LPS can only display the breakdown of valuations for shops, offices, warehouses and factories. Distinguishment A distinguishment refers to a particular usage or characteristic of a property or part of a property. In rating law if a property is classed as having a distinguishment certain reliefs or exemptions are applied to it. These reliefs and exemptions impact on the final calculation of the rate bill for the property. OT (Other): Any part of the NAV that does not have one of the following distinguishments is described as OT (Other) and is 100% rateable. IN (Industrial): Properties used for manufacturing. SR (Sport and Recreational): Properties used for sport and recreational purpose. EX (Exempt): No rates are due on this portion of the NAV. Properties which are 100% exempt receive a zero bill balance, but they have been revalued in line with all other business property at this time. FT (Freight Transport): Properties used as canal, dock or railway undertakings. Zone Zoning is a means of comparing one shop with another for analysis and valuation. It is based on the principle that the most valuable part of the shop is the area closest to the frontage. This is called Zone A. Zone B is the second most valuable part of the shop, and so on..

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