Limerick tops rates survey

Businesses in the Limerick Corporation district pay more commercial property rates than in any other area in the State, the Chambers of Commerce of Ireland said yesterday.

A survey on the rates levied by local authorities said a firm in the Corporation district owning property with a notional valuation of £10,000 would pay a rate of £3,618.72 this year.

This compared with the £3,197.25 levied by Cork Corporation, where the second highest rate applies. Tralee Urban District Council (UDC) charged the third most expensive rate, £2,812, on property with a notional value of £10,000.

Businesses of this valuation in the Dublin Corporation area would pay £2,554 in rates this year, the body said. The average payment in all local authorities for such property would be £2,176.69.

The fourth-highest rates in the State were charged by Kerry Co Council; 5th Ballyshannon Town Commission in Co Donegal; 6th Waterford Corporation; 7th Galway Corporation; 8th Donegal Co Council; 9th Monaghan Co Council; 10th Listowel UDC in Co Kerry.

The system works on notional valuations as assessed by the Valuation Office because there has been no general revaluation of Irish properties since the 1860s.

A new revaluation is anticipated when the Valuation Bill published last June is enacted, though the Bill has yet to put before the Houses of the Oireachtas. This is expected in the autumn.

Under the current system, two similar properties in an urban and a rural area are likely to have very different rateable valuations and be charged different rates by the relevant authority.