MONMOUTHSHIRE County Council is calling for a re-think on the latest revaluation of business rateable values assessed by

the Valuation Office Agency (VOA). 

Some businesses across the county are reporting an increase of more than 200 per cent in rateable values from April 1, 2017.

Councillors and officers will meet with senior officials of the VOA and will also make representations to Welsh Government at the highest level. 

The subject will also be on the agenda of the next meeting of the county council on Thursday, December 1.

New proposed rateable values are based on the rental value of properties at April 1 2015, reflecting changes in the property market across the country since the last valuation undertaken in 2010.

Deputy Leader Bob Greenland, the Cabinet member for enterprise, said: “We shall ask for a postponement of the revaluation so that the methodology can be examined.

“It surely cannot be right that valuations based on rental values mean that some retailers and other businesses in rural areas discover their rate valuations have been hiked way beyond an acceptable level, while in central Cardiff we see some decreases in rateable values proposed.

“Not all our businesses face increases though and there may be good reasons for some proposed changes, but the system must be seen to be transparent and fair.” 

Cllr Greenland added: “Alternately, we shall seek assurance that those who lodge appeals against the revaluation should have increases postponed until the determination of the appeals. 

Businesses asked to pay these unexpected hikes at short notice could well suffer severe cash flow problems – enough to tip them over the edge.”