Rates in Dublin City Centre could be set to double

Rates in Dublin City Centre could be set to double

Rates in Dublin City Centre at prime locations such as Grafton Street could be set to double

Rates in Dublin’s City Centre could be set to double, according to a report in today’s Irish Times.

A revaluation process is currently being carried out by Dublin City Council to redistribute the overall burden of rates between office, retail, industrial and other commercial occupiers.

It is hoped that proposed valuation certificates will be issued this October with new assessments applying from January 2014.

While the council will not increase its revenue from the revaluation, it will mean that some ratepayers will see their bills increase, while others will see them decrease.

According to chartered surveyor Brian Bagnall’s article in today’s Times that could mean that city centre retailers in areas such as Grafton Street could be worst hit.

Read the full article here.

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