Rates cut will help retailers
DUP councillor Trevor Clarke has welcomed the news that a review of property values by Land and Property Services has been completed, and is likely to spell significant changes to rates bills for non-domestic properties in the Borough.
He said: “In Coleraine, the rateable value of many town centre business premises are listed to decrease by 20 percent and more, in some cases by 40 percent and above. A reduction in what is for many a substantial overhead cost will increase business competitiveness and viability. This can only help make the town centre more competitive On the other hand, the rateable values of some out-of-town stores are set to increase by as much as 33 percent.
“Over the weekend, I have been contacted by businesses in the Railway Road area of Coleraine, they have told me that their rateable values are earmarked to increase. Railway Road is very much part of the town centre retail offering, the same principles in the rating reassessment should apply to shops there. We will not reinvigorate the town centre by killing off retail in vital feeder streets.”