Commercial rates revaluation must be put on ice
- Clare one of the local authorities earmarked for revaluation
- Deferral will help keep businesses afloat
Fianna Fáil TD for Clare Cathal Crowe is calling on the government to defer the planned revaluation of commercial rates in Clare, Donegal, Dun Laoghaire-Rathdown, Galway, Kerry and Mayo in light of the cost-of-living crisis.
The revaluation process is taking place as part of Revaluation 2023 is a national programme aimed at ensuring that the rateable valuation of all commercial and industrial property in Ireland reflects the current business environment.
However, Deputy Crowe has requested that an Taoiseach put a stop to these plans in the interim, given the economic uncertainty facing many small businesses.
“The government must consider a deferral of the revaluation of commercial rates as a matter of urgency,” said Deputy Crowe.
“It’s been 160 years since the last valuation – the last one taking place in 1862 – so there’s no reason why this can’t be postponed now; a year or two will make no difference at this point.
“They’ve been well supported by government during Covid and in the recent Budget but this is a cliff-edge for them.
“They’re facing rates hikes of 33% and more and they’re looking for government to step in and do something.
“It could cancel out all of the benefits from recent actions taken by government.
“There’s legislative processes to follow here but a statutory instrument could defer this and I think it would be prudent when these small businesses such as coffee shops and retail outlets are facing an existential crisis.
“I’ve raised this matter with an Taoiseach, who will talk to the Minister for Finance about my proposal, and this is something I will be following up on.”
-ENDS-
