Council Tax Advice on Relatively New Flat

Librium

Hi I just bought a flat in Cardiff, it was built about 3 years ago. I was just wondering since the value of the property has dropped significantly now would it be worth getting it re assessed. It's currently in Band E which is pretty high I think for a two bed flat.

Any advice would be appreciated as I've read through the articles and cant find anything on council tax changes due to the value dropping.

lincroft1710

Council Tax for Wales is based on property values as at 1 April 2003, England and Scotland are 1 Apr 1991, Wales was unique in having a revaluation. Changes in property prices either up or down won't affect band. Band E (for Wales) starts at £123,001, so you have to decide if your flat had been in existence as at 1 Apr 2003, would it have been worth this figure or more.

The Valuation Office Agency are responsible for banding properties in England and Wales and I would suggest you look at their website www.voa.gov.uk