This stakeholder update brings together the latest information provided by the Welsh Government on the Non-Domestic Rates (NDR) system in Wales.
Latest updates
2026 Revaluation
At the heart of the Welsh Government’s NDR reforms is a move to three-yearly revaluations in Wales. Preparations are underway for the next revaluation, which will take place on 1 April 2026.
A revaluation comprises the review of the rateable values of all non-domestic properties, by the Valuation Office Agency (VOA), at a particular point in time. Every non-domestic property will be assigned a new rateable value, based upon its estimated annual rental value as at 1 April 2024 (the antecedent valuation date). The VOA will compile and publish the new rating list in draft by the end of 2025.
Revaluation is carried out to maintain fairness in the NDR system, by redistributing the total amount payable between ratepayers, to reflect relative changes in the property market. Some ratepayers will see their bill increase, some will see a decrease, and some will not see any change, reflecting relative changes in the property market across the tax-base.
An NDR bill is calculated by taking the rateable value of a property and multiplying it by the NDR multiplier (before any reliefs are applied). The multiplier will ensure the overall revenue from NDR continues to support stable funding for local public services across Wales. The Welsh Government will confirm the multiplier when setting the budget for 2026-27, taking account of the impact of the revaluation on the tax-base.
Review of reliefs
As part of the wider reform programme set out for the current Senedd term, we commissioned Alma Economics to undertake a review of NDR reliefs in Wales. The primary aim of the research was to develop a set of key principles to guide future changes to the landscape of NDR reliefs, informed by practical experiences of billing authorities and the perceptions of ratepayers.
We are grateful to a range of stakeholders, including taxation experts, billing authorities, ratepayers and their representatives, for their constructive participation in the review. This work has now concluded with the publication of a Government Social Research report.
Statistical bulletin on NDR in Wales
We have published our latest annual statistical bulletin on NDR in Wales. The bulletin includes data on the amount of NDR collected and reliefs provided, up to and including the 2023-24 financial year. We welcome any feedback from stakeholders.
NDR consultations
All consultations apply to Wales only.
Measures to address avoidance of non-domestic rates – open
A consultation on proposals to address NDR avoidance is open for twelve weeks, from 7 April to 30 June 2025.
Proposals for non-domestic rates differential multipliers – open
A consultation on proposals to introduce differential multipliers for NDR is open for twelve weeks, from 20 May to 12 August 2025.
Further information
We welcome feedback on this stakeholder update. Any comments or enquiries should be directed to: localtaxationpolicy@gov.wales.
The next update is planned for Autumn 2025 (provisional).
Useful links:
Welsh Government
Business Wales
Valuation Office Agency
Valuation Tribunal for Wales
Welsh Local Government Association
Senedd Cymru