The Land Valuation Department is advising that under the provisions of the Land Valuation and Tax Act 1967, a new Valuation List is required to be prepared to take account of changes in rental levels throughout the Island since the existing Valuation List was last prepared on December 31, 2009.

The next revaluation is due on December 31 this year. As part of the revaluation process, the department must collect information about properties, including data on rents with a view to preparing the 2015 Valuation List.

During this month, the department will be sending out both the residential and commercial rental survey forms to all land taxpayers on the Island and included with the forms is a prepaid return envelope. The forms should be completed and returned to the department within 21 days from the date of receipt.

It is important that everyone who receives a form completes and returns it to the Land Valuation Department, as this is a legal requirement and there are penalties for not doing so. The information collected will be confidential and will be used only for the purpose of the revaluation.

Anyone requiring assistance with the forms can either call the helpline on 297 7966 for the residential rental survey forms or 295 5151 ext 1452 for the commercial survey forms. You can also take the form to the Land Valuation Department, which is located on the second floor of Global House, 43 Church Street, Hamilton, where a member of staff will be happy to assist.