Empty business premises rate frozen

Thursday, 18 February 2010

Empty commercial properties will continue to pay rates at 50%

Empty commercial properties will continue to pay rates at 50%

Finance Minister Sammy Wilson has announced that the rating of empty commercial properties will remain frozen at 50%.

He said levying the charge was working well and discouraging properties from lying unused.

The 50% level for the rating of empty commercial premises was introduced in Northern Ireland in 2004 and the minister's decision follows an evaluation of the scheme by his department.

Mr Wilson said: "Levying rates on empty commercial premises is a move which, the evaluation shows, is working reasonably well.

"Allowing commercial properties to lie empty is not good for the economy and, ultimately, not good for business.

"I still feel it is right to make empty premises liable for rates to both contribute to the funding of public services and help encourage the property quickly back onto the market."

The decision to keep the level at 50% contrasts with the position in England and Wales where rates are charged at the full 100%.

There have been calls for increased relief for owners of empty properties in light of the economic downturn.

Mr Wilson added: "Because of the worsening economic outlook we made the wise decision in 2008 not to follow the change to 100% liability in England and Wales for all commercial properties, including factories.

"Now is not the time for such moves though I think it is worth looking at again when economic conditions have improved."

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