The Draft 2020 NAVs have now been issued and we are delighted to see several businesses have received discounts. However, the 2020 Draft Reval hasn’t reflected the fall in rents
The Draft 2020 NAVs have now been issued and we are delighted to see several businesses have received discounts. However, the 2020 Draft Reval hasn’t reflected the fall in rents over the last number of years and many properties remain over-rated. The BID will continue to make representations on behalf of members to seek further reviews.
The fundamental flaws in the current rates system remain and Retail, hospitality and office sectors pay a multiple of their fair share as a result of the NI exemptions for agriculture, manufacturing and domestic water rates. None of these apply in GB. Plus, we do not benefit for the High Street Rates Reliefs that apply in GB. The cumulative effect of all this with the on line and out of town challenges is that our town and city centres remain under huge and unfair pressure.
The BID continues to lobby Stormont Civil Service and at Westminster for a fairer system for town centres. We welcome Boris Johnstons manifesto pledge to increase High Street rates reliefs from 33% to 50% and continue to press for its adoption here.
We are also jointly hosting a 2020 Reval information event with Newry Chamber on Tuesday 28th January 2020 in Newry City Library from 09.30am – 11am. We encourage members to attend and to engage the BID to allow challenge of inequities on the draft list.
(Tuesday) 9:30 am - 11:00 am
Newry City Library
79 Hill St, Newry BT34 1DG