Commercial rates increase for Leitrim for 2023

Leitrim county councillors have agreed to a 3.5% increase in the annual rate on valuation for commercial properties for 2023 as part of the budget for the coming year.

Addressing the Annual Budget meeting in Carrick-on-Shannon this morning, Council Chief Executive, Lar Power, explained that the local authority is pursuing a "very ambitious strategic investment programme for a county of this size".

He noted that this programme will cost in the region of €387m and this can only be achieved by the council borrowing to meet the match funding elements.

He said he was recommending a 3.5% increase in the commercial rates as part of the 2023 budget but stressed all funds raised from this increase "will be ringfenced for use" for the investment programme. He acknowledged that increasing commercial rates is a "hard decision to make" but added that he believed the funds raise "will benefit the whole county" as a consequence.

The Budget, including the annual rate on valuation increase, was subsequently proposed and adopted.