understanding rates on comemrcial property

duffysfarm

I have a rented commercial property I have received a first rates demand on it. To be honest it is like double dutch to me. the last valuation was completed in 2001 (which I have a copy of) I have looked at the county council website and I cant follow how it is worked out. Would it be worth getting the property revalued for rates?

nosilver

Rate is where coumcil get most of tehir income to pay for road repairs, social housing, traffic control etc etc etc.

You can't get a premises revalued unless a substantial change has been made in the make up of the premises - e.g. change from retail to office.


Retail rates are horrendous. A average size store in Liffey valley will be paying in excess of €40,000 a year, the large stores like M&s / boots are paying €1m+ in some cases.

On average rates seems to be about 20% - 25% of the rent - but that's just a guide

duffysfarm

and is it true that if the tennant doesnt pay the rates then the landlord has to pay for it? seems a bit bonkers to me

The_Pretender

The rates are attached to the building and not the occupiers. In a lot of cases it's the occupier who is paying the rates as part of the lease agreement, however if the Company was to go into liquidation then ultimately the landlord is responsible for unpaid rates. In my experience of these cases though the Council rarely go after the landlord for unpaid rates up to the date of liquidation, though they are entitled to.

CIARAN_BOYLE

duffysfarm wrote: »

Would it be worth getting the property revalued for rates?

Has the value gone up since the last valuation? If yes do you want to pay more tax. If no they won't let you get it revalued.

neris

high rates is why home owners pay so little property tax. ask the council what you get for paying your business rates and you,ll see the real meaning of money for nothing.