Coffey calls on Minister to ease burden on businesses for re-valued rates

Fine Gael Waterford Deputy, Paudie Coffey, has called on the Minister for Environment, Community and Local Government, Phil Hogan TD, to use powers under the Valuation Act 2001 to limit the amount that rates can be increased for businesses in Waterford. Deputy Coffey was speaking following the revaluation process that has been completed in Waterford City, Waterford County and Dungarvan, that has led to massive rates increases for certain businesses, in particular in the retail sector.

“Since notices of the new valuations have been sent out, many businesses in Waterford have seen their rates bill skyrocket. In some instances this is by more than 100%, which is completely unsustainable and unworkable for these businesses. We all agree that we need a strong and sustainable funding model for local government and businesses, not only in Waterford but right around the country.

“The rates bill for businesses is on top of wage costs and other overheads so we need to do everything we can to improve business sentiment, which in turn will encourage consumer confidence. This will have a positive impact on the Irish economy as a whole.

“Under the 2001 Valuation Act; specifically Section 56, Subsection 2 and 3; the Minister for the Environment, Community and Local Government can direct rateable authorities to use the valuations rates from last year, limiting the increase in line with the Consumer Price Index, to ensure that businesses are not unfairly hit.

“This would allow for a significant amount of breathing space for businesses right across Waterford and would allow for further solutions to be found over the course of the next 12-18 months. It would also give time for the passage of the Valuation (Amendment) No.2 Bill to be passed by the Oireachtas, allowing for a speedier valuation process and a more streamlined appeals process to be put in place.

“I have been liaising with various groups and representative bodies over the course of the last number of weeks since notices were first sent out to businesses in Waterford informing them of their new rates liability. I am working on their behalf to ensure pro-business solutions on this issue that will not threaten jobs and will help to support businesses.

“The Minister has also indicated to me that he is open to the idea of a self-assessment system being implemented, which could reduce the costs on businesses in Waterford and the rest of the country. I am calling on the Minister to make this order at the earliest possible opportunity so that businesses in Waterford will not be hit with the hike in rates that are being proposed for some businesses.”