The rates are soon to be struck in February for local business and residential properties across Down. Many small businesses already with one eye on their bank balance, are hoping that the expected hike in rates will not be too severe.
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South Down Independent Unionist John McCallister urges local businesses to keep an eye on their rates evaluation. .[/caption]
Already in main streets across County Down, shops have been closing through 2014 at an alarming rate as town centres become less economic and small businesses become stifled with rising costs.
Keeping a close eye in this unfolding situation, South Down MLA John McCallister (Independent Unionist) has urged local businesses to check the New Valuation List for non-domestic rates at the Land and Property Services before the new rate is finalised on 31 March 2015.
He said: “Non-domestic rates are being revalued against the annual rental value of a property at April 2013. Also coupled with this is the merger of Down District Council with Newry and Mourne Council into the new Newry Mourne and Down Council which could result in a double-whammy for businesses.
“There is a danger that some businesses will be asked to pay significantly more because their valuation has gone up and the creation of one super council will see the convergence of different levels of rates.
“With regards to revaluation, there is an opportunity for all local businesses to check the draft Valuation List and query their proposed rates bill if they think it is unreasonable or a mistake has been made.
“As the proposals stand, the total non-domestic valuations for the Newry and Mourne District have gone up by over £10million, and in Down by over £5million – these individual valuations can be queried.
“Businesses’ final rates bill will be determined by what level the new Council strikes the rates at, and this is due to happen in February.
“With regards the creation of one super Council, support has been made available. I welcome the creation of a £30million support scheme from the Department of Finance and Personnel to assist both domestic and non-domestic ratepayers who would have otherwise faced a sudden and excessive increase in their rates bill, because of the differences that currently exist between the rates set in Newry and Mourne and Down District.”
Mr McCallister also explained that he was “extremely pleased that, after considerable pressure, the NI Executive has agreed to extend the Small Business Rate Relief for another year.
“The Small Business Rate Relief helps local businesses survive and invest in the future. I am convinced that it should be extended beyond the additional year and I will continually put this point to the Minister for Finance”.
“This is situation which will have to be monitored closely in the coming years. The last thing we need is for businesses in our town centres to be placed under further long-term pressures.
“I would encourage anyone who would like support in querying their rates valuation to contact my constituency office at 028 4372 7085.
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