Winners & Losers in Rates Revaluation - Flanagan
Published: 18 November, 2014
Sinn Féin MLA Phil Flanagan has stated that some business owners in Fermanagh will likely see a considerable change in their rates bills following the publication of the draft rateable value of non-domestic properties, meaning some will pay more and some will pay less.
The new values will be used to calculate business rate bills from 1 April 2015. The revaluation means that from next year, ratepayers will contribute to the funding of services relative to their 2013 rental value, instead of 2001 values as at present.
Mr Flanagan said:
"From my initial assessment of the draft rateable value of non-domestic properties in Fermanagh, it is clear that there will be some businesses who will pay less and some that will pay more. However I want to take time to look into the proposals in more detail and to engage with the local business sector.
"The full schedule can be viewed online at www.reveal2015ni.gov.uk and I would encourage business owners to log onto the website and check how their own property will be affected by the proposals.
"While actual rate bills can't be worked out until the Executive and the new council sets their rate poundages in February 2015, this release of draft rateable values gives business ratepayers early information with the opportunity to review the draft values now for their individual properties."
Concluding, Mr Flanagan said:
"I have spoken with business owners who are delighted at these proposals and with some that are very fearful for their future as a result of them. There is still a great deal of uncertainty around the proposals.
"Therefore, I have asked officials from the Department of Finance & Personnel to visit Fermanagh in the next few weeks to join me in engaging with local business owners and to hear feedback from them on these proposals.
"This will also be an opportunity for business owners to get an explanation on why their rateable value may have drastically changed and information on what to do if people think their valuation is wrong."