A ‘loser’ of the revaluation includes so-called ‘out-of-town’ supermarkets, with Asda being hit for a 60.95% increase
SHOPS and other businesses in Enniskillen town centre could be set to receive a rates boost with rental values in property falling by as much as 35% for some, following a new evaluation.
Land and Property Services has re-valued non-domestic properties across the North meaning that ‘new values’ will be used to calculate rates bills from April 1 of next year.
This means that ratepayers will be paying based on their 2013 rental value – as opposed to the last evaluation which was back in 2001.
Changing consumer trends are in the last decade have had an impact on the changes.
Early reports indicate that so-called winners include retail outlets, high streets and in-town shopping centres. So-called losers, however, include retail parks, out-of-town supermarkets and the utilities sector (including windfarms).
The rateable value of a business property is worked out using its Net Annual Value (NAV). This is a ‘working out’ of the yearly rental value that a property could be let out for. That is then multiplied by the ‘rate in the pound’ – which will be worked out next year by local councils – to work out the rates bill.
In the town centre, for example, Pat’s Bar has seen its NAV reduced by 30% – from £65,000 to £45,500; B and M Bargains has seen its NAV reduced from £115,000 to £81,000 – a reduction of 29.57%.
Mercers Jewellers has gone down by 34.76% from £37,400 to £24,400. Well-known high street retailer, Burton, has seen a reduction of 34.76% in its Enniskillen store, from £37, 800 to £24, 600.
Further from the Diamond area of the town, Eason’s is reduced by 35.74% from £47,000 to £30, 200 while SD Kells by 23.4%, from £78,200 to £59,400.
At Erneside, many units have seen a reduction of around 10% – while a ‘loser’ of the revaluation includes so-called ‘out-of-town’ supermarkets, with Asda being hit for a 60.95% increase – from £840,000 to £1,352,000.
Because this is a draft evaluation – businesses are entitled to contest the findings.
Glyn Roberts, chief executive of the Northern Ireland Independent Retail Trade Association (NIIRTA), including in Fermanagh, has strongly welcomed the outline rates revaluation figures as ‘good news for independent retailers and town centres’.
He said: “I think that it’s important to put out that there will be winners and lose and broadly speaking our members have been winners in seeing their rates decrease.”
Mr Roberts did say, however, that he has had a number of calls from Fermanagh businesses with concerns.
“We’ve had a number of concerns – and the most number of calls we’ve seen with rates increases has been in Fermanagh. We’ve a number in Irvinestown and Lisnaskea who have seen their rates increase – who should not be seeing such a dramatic increase. That is something that we will be addressing.”
He added: “There will be businesses who will not do well – but broadly speaking in terms of our membership, they have done well. There’s an appeal mechanism that we would ask people to look seriously at.”
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