The rule changes will contribute to the creation of a modern valuation system where all information is digital, meaning data can be more easily accessed and transferred.
The ultimate aim is to have a set of RVR that remain user-friendly and easy-to-understand, while continuing to achieve regulatory objectives.
Next steps
We will review the rules in phases over 2023 and intend to meet regularly with councils and valuation service providers throughout this process to seek views on potential changes.
This information will help inform a final draft set of rules which we will formally consult on, with the consultation expected to be in 2024.