The new rates valuation due out this month could close local businesses, according to local businessman and Councillor John McCartin.
Leitrim businesses can expect to receive a preliminary valuation report on their business with a new commercial rate by the middle of this month.
Vincent Dwyer, Director of Services in Leitrim County Council, informed councillors that the Valuation Office has told the council that preliminary reports are due out by mid January which will give businesses their new rates to pay Leitrim County Council.
The council decided not to change the commercial rates in Leitrim for next year. These new rates will come into force for 2018.
The Valuation Office will assess the Net Annual Value of a property. The most common method used is direct comparison with annual rental values of other similar properties in the area.
Other classes of properties such as licensed premises, hotels and service stations are valued by reference to the trading data associated with the particular property.
The new valuation will be the basis for the commercial rates that will be levied on businesses by the local authority from 2018 onwards.
Cllr John McCartin asked what steps businesses can take after their people receive the preliminary notification.
The council said businesses will have 40 days to appeal the decision.
It will be next September or October when the final valuation is revealed.
After that, businesses can bring their complaints to the Valuation Tribunal.
There is currently a backlog in the Valuation office, which means new businesses have not yet been valued by the Dublin based office.
Carrigallen Cllr Paddy O’Rourke said “there will be winners and losers.”
Some businesses may receive a lower rate than they are currently paying, but others will see their annual rates increase depending on the size of the building.
Cllr John McCartin said “it could spell the end of the line for a few businesses in Leitrim.”
He felt that increased rates could force businesses who are not making much profit to close their business.
The helpline for ratepayers in Leitrim, is (01) 8171033, LoCall 1890 531431 or email: Reval2017@valoff.ie
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