Rates increases and decreases on the way for Laois business.
Laois businesses will soon know the impact of a rates revaluation on their bottom line but they can get a glimpse of what's in store after confirmation of changes in neighbouring Offaly, Carlow and other counties.
The Valuation Office has recently carried out revaluation of all commercial and industrial properties in the rating authority areas of Carlow, Kildare, Kilkenny, Leitrim, Longford, Offaly, Roscommon, Sligo, South Dublin and Westmeath County Councils.
On the September 7 Valuation Certificates were issued to 29,067 ratepayers in these local authority areas.
Rates liability for 2018 will be calculated by multiplying the Valuation of the property by the “Annual Rate on Valuation” (ARV) which will be set by County Council at their budgetary meeting later this year. I
In Offaly 2,490 Valuation Certificates have been issued. The valuation office says 58% of ratepayers who will experience a reduction in rates while 38% will see an increase. Just 4% of ratepayers will experience no change (some are new properties).
Portarlington sits on the Laois Offaly border and the new rates have already been outlined to business people on the Offaly side of the town.
Graiguecullen sits on the Laois Carlow border. A total of 1,989 Valuation Certificates were issued in Carlow where nearly 55% of ratepayers who will experience a reduction in rates. Just over 42% of Carlow ratepayers who will experience an increase in rates.
All local authorities are being revalued under a National Revaluation Programme which is now well underway. The Valuation Office says Laois County Council's ratepayers will be the subject of a revaluation "in due course".
John Mulholland, Laois County Council's Chief Executive, recently pledged not to increase rates as part of a deal with county councillors when they voted to increase the Local Property Tax.
More details from Valuation Office here