6% increase in percentage commercial rates collected for 2022 in Leitrim

There was a 6% increase in the overall percentage collection for commercial rates in Leitrim for 2022 with the final collection percentage for the year at 80%.

However despite a increase in the collection of commercial rates overall there was a loss of income of nearly €94,000 to the Council in 2022 because of the financial impact of Valuation Tribunal decisions.

According to the rates figures released at the March Council meeting a total of 1,134 customers were issued rates demands in 2022 at a value of €6,619,153.

However a number of appeals to the Valuation Tribunal last year were finalised and all resulted in a lesser valuation being applied to the commercial property.

Overall, the financial impact of the Valuation Tribunal decisions resulted in a ‘retraction’ of the Rates Book of €93,968 which is a loss of income from commercial rates to the Council.

The Council meeting also heard that a total of €611,133 in commercial rates was written off in 2022. This figure consisted of €395,676 written off for collection due to the vacancy write off scheme and a further €215,458 written off due as irrecoverable debt.

With effect from 1st January, 2019 the maximum write off for a vacant commercial property in Leitrim is 75% with the ratepayer responsible to pay the 25% liability.

In recognition of the ongoing impact that Covid-19 was having on businesses, a commercial rates waiver was applied to specified businesses for Quarter 1, 2022. The waiver was the equivalent of 25% of the annual rate demand for 2022.

A total of €204,227 as a ‘credit-in-lieu’ of rates was applied to 205 properties under the Rates Waiver Scheme.