New rates bills on way for city centre
Business owners in Dublin City are likely to face new commercial rates bills following the revaluation of circa 25,000 premises. This advice has come from the Society of Chartered Surveyors Ireland (SCSI).
Business owners will receive proposed valuations during October and November and the new valuations will come into effect for rating purposes in 2014. It is the first time a General Revaluation has been carried out in Dublin City for approximately 100 years.
The SCSI said that the purpose of the revaluation is to bring more equity, fairness and transparency into the Dublin City Council rating system and to bring it up to date to reflect recent changes in property rental values.
The chairman of the SCSI Valuation Professional Group Rory Lavelle, said.
"Understandably, business owners in Dublin City are concerned about the effect of the Revaluation on their rates bill, particularly when they are dealing with challenging economic circumstances and are trying to restore competitiveness to retain jobs", he said.
Mr. Lavelle said that it is important that business owners are fully informed about the revaluation and their new rates liabilities and recommended that they only deal with qualified professional rating consultants if seeking professional advice.
The SCSI has also produced an impartial guide to Revaluation and Rating Assessment which contains useful information about the revaluation process, how commercial rates are calculated and how to make a representation to the Valuation Office.
It is available to download for free from www.scsi.ie.