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While more frequent revaluations and the proposed moratorium on introducing or increasing rates bills on completed or improved properties would be welcomed, other measures ignore the commercial realities of the property market.
2 million properties island-wide had not been accounted for until authorities began a revaluation of properties back in 2013.
The opportunity to look at more regular revaluations was considered by the Business Rates Panel which Mr Sutton chaired.
Running two years late, it will be the first revaluation by the Valuation Office Agency since 2010 - a period of huge change on the high streets of North Wales.
SMALL businesses in some parts of Belfast may have to relocate following the latest rates revaluation, it was claimed yesterday.
The International Accounting Standards Board (IASB) developed International Accounting Standard (IAS) 16 which addresses the accounting for property, plant, and equipment (PPE) and fixed asset revaluations and became effective in January 2005 (IASB, 2003).
THE latest changes in legislation affecting property include the Growth and Infrastructure Act 2013 which became law on April 25 and postponement of the 2015 Rating Revaluation.
Upward revaluations can also benefit entities by enabling reduced debt contracting costs and potentially providing increased borrowing capacity, although this might only affect the related accounting, because markets and individual investors have generally adjusted for current values of assets.
During the last revaluation in Wales in 2005, four times as many homes moved up one or two council tax bands than moved down, the UK Government said.
These will be the final bills based on rateable values from the last revaluation undertaken in 2005, with the new rating assessments for the following five years coming into force from April 2010.
It is true that revaluation reduces the value of foreign assets expressed in local currency.
Massachusetts cities and towns are required to do a full revaluation of taxable properties every three years, and a partial revaluation the other two years.