Commercial vacancy rates rebate is counterintuitive – Cole

Over 12% of commercial properties are unused in Wexford town. Local election candidate Elaine Cole says that this figure could be reduced by dramatically lowering the commercial rates rebate in the town, which she claims is counterproductive and a contributing factor to high rates for existing businesses.

 The Aontu rep said; “Owners of commercial sites that remain vacant for a year or more are eligible for a rebate on their rates of up to 85%. This reduces the encouragement for owners to drop high rents to attract tenants. In turn this means that SMEs and start ups struggle to rent property they need while owners can afford to leaves sites empty. This is counterintuitive.”

“Last year our local councillors once again refused to lower the generous rebate and instead are complicit in the recent rise in commercial rates for many businesses across Wexford. A massive lowering of the rebate would have helped the argument to reduce rates on small, struggling businesses.”

“One business owner I met while canvassing had her rates raised by €1400 this year – a 34% increase. To top this, the rates incentive offered to her by the Council to open her business in a vacant premises two years ago has still not been given. Add to this the increase in VAT and the cost of bins which the rates should but do not cover, and we see the burden placed upon small business owners. They are squeezed rather than fostered.”

“If elected, I will strive to work towards the lowering of the rate rebate on vacant sites and a reduction on rates payable on leased premises. This would help rejuvenate Wexford, which in turn will attract more tourism, more footfall and more jobs."