BUSINESS OWNERS IN Dublin City are set to face new commercial rates in 2014, as 25,000 premises undergo a general revaluation.
The revaluations, which are due to take place in October and November of this year, will be the first to be carried out in Dublin in 100 years.
The Society of Chartered Surveyors Ireland (SCSI) have said that they hope the revaluations will bring more equity, fairness and transparency into the Dublin City Council rating system.
The Chairman of the Valuation Professional Group of the SCSI, Rory Lavelle, said:
The General Revaluation is likely to result in commercial rates increases for some business owners and decreases for others and is intended to result in a fairer distribution of commercial rates liabilities throughout the city.
Owners of the 25,000 premises are set to receive their new Proposed Valuation Certificates during October and November. They will then have 28 days to submit a representation if they are dissatisfied with their proposed valuation.
Lavelle said that it is important that business owners are informed about the revaluation and have produced an impartial guide.
Business representatives said they were keeping a watching brief on the changes and keeping their members informed.
“The size of the pie will remain the same, but it can have a major impact on some businesses in terms of how it is done”, Patrick King of Dublin Chamber of Commerce told TheJournal.ie.
€280m was collected by the council in 2011. This year they are forecasting to take €308m.
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