The Scottish Government has now considered the consultation and consultation responses in respect of the decapitalisation rates employed in Contractors’ Basis valuations in Scotland.
Scottish Ministers have decided to retain the prescribed standard and lower rates at 4.6% and 2.9% respectively. The Valuation for Rating (Decapitalisation Rate) (Scotland) Regulations 2016 will therefore remain in force.
Draft 2023 values for rateable non-domestic properties, including those valued by the Assessors on the Contractor’s basis, will be published on 30 November 2022. Final rateable values will come into force on 1 April 2023.