Revaluation will not fix commercial rates issue – Codd

The revaluation of all non-domestic property in Wexford which is currently taking part under the National Revaluation Programme will do nothing to help struggling local businesses according to a local election candidate. Jim Codd, the Aontu rep for the Rosslare LEA, has called for existing high rates to be reduced by placing higher duties on empty commercial units.

“It seems that both National and Local Government are dangerously unaware of the problems faced by local businesses,” Mr Codd said. “Commercial Rates are already a cause of stress to these businesses and now the revaluation of existing rates is going to add extra expense to an estimated 50% of rate holders in Wexford.”

“It is important to note the proposed valuation entered on the Proposed Valuations Certificate is not a bill for rates but is a statement of the proposed valuation on which rates will be calculated from January 1, 2020. Any rate payer who is dissatisfied with any of the particulars on their PVC can submit representations to the Valuation Office within 40 days from the date of issue of their certificate.”

“A related cost factor is Commercial Property rent inflation. This is having a serious impact in many areas of the country. Currently rates for empty commercial sites are set by local councils, but are set low enough to leave owners under little added pressure to find new commercial leaseholders. An increase in the rates for empty commercial premises, and a minimum set at government level albeit applied by local councils would see a drop in rent amounts as owners are encouraged to lease out their sites to avoid paying the increased vacancy rates. In turn these sites then become locations of viable enterprise and re-energise local areas.”