Hotel and pub valuations reduced in list to calculate business rates

Hotels and pubs have had their valuations reduced in a new list used to calculate business rates in Northern Ireland.

Business rates are charged on most non-domestic premises including shops, offices, warehouses, factories, hotels and pubs as well as utilities such as gas, water, electricity and wind farms. The office sector's rateable value increased by 10% overall, while warehouse and storage property rose by 12% and manufacturing property by 11%.

Around 75% of non-domestic properties here are entitled to some form of rate relief, which in the vast majority of cases will not be affected by the revaluation. "The amount of money raised through rates will not change as a direct result of Reval2023. The purpose of this revaluation is to maintain fairness in the rating system, not to raise more revenue."

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The 1850s property near Bridgnorth which 'simply has it all' is on market for £1.8mA Shropshire home dating back to the 1850s, which has undergone extensive renovation over the past five years, has been brought to the market with a guide price of £1,800,000. ChavPad 😉 If anything sums up the Shropshire Star's struggling cirulation it’s their Tory obsession with multi-million pound properties while the majority of us freeze and starve to death!
Source: ShropshireStar - 🏆 98. / 51 Read more »

Inside four-bed NI property on the market with direct beach accessThis beautiful four-bed detached home in Co Down that offers direct beach access is currently on the market
Source: BelfastLive - 🏆 16. / 77 Read more »