Commercial property rates reduction

plankton

Registered User
Messages
22
Hello, my rates are aprox. €3500 p.a. I would like to get a reduction, on what basis should I argue for same? Some points I have thought of are:
Value of property down 60-70%
Small business park which was on the very busy N3 at the time of valuation, but now is on the N145? same road but with the advent of the M3 is a lot less busy.
Business park now has unoccupied units.
Theft due to break-ins is a major problem, in 8 years €38k in damage and theft.
Possible rental income reduced.
Was employing 5 and my self, now just me.
Dose any of the above warrant a reduction in rates?
Any other grounds for arguing for a reduction?
 
Your rates bill is the rateable valuation of your property by the multiplier set by your council.
But the rateable valuation is not the current value - as it would have been set years ago (Im not sure the exact date but think maybe the early 90's). Obviously the councils have been increasing the multiplier over the years.

There is currently a revaluation going on in Ireland and is being done on a county by county basis - think various Waterford council areas and Dublin City are up at the moment. The Valuation date is, I think, April 2011. So your rates will be based on rental value of your property at this date by the multiplier.
I dont know what county you are in. The revaluation will take years so you may be waiting a long time for them to get to your county.

Outside of The Revaluation the only route to a reduction is a Material Change of Circumstances. This relates to your building rather than economic factors etc. None of your reasons listed will do you any good outside of a revaluation

One thing you can do is look at physically subdividing your unit if possible (assuming you are not using it all). You can then seek the valuation office to give you two valuations; one on the vacant portion and one on the portion in use. You can then get a rates refund on the vacant part if it is on the market to let (generally 100% but 50% in some of the cities).

You should speak with a rating surveyor. Pm me and I will give you the names of companies. You will be able to speak with someone expert in this area (something I am not). I have no connection to the companies but know rating surveyors through previous work.