Watchdog warns struggling retailers they face rate hike

Members of the Dáil’s public spending watchdog have expressed concern that a programme to revise the value of all commercial properties across the country will drive many struggling retailers out of business.

The head of the Valuation Office, which is overseeing the nationwide project, admitted yesterday that many retailers are likely to face an increase in rate charges once their area has been reviewed, while many industrial premises are expected to see their rates fall or remain static.

The Commissioner of Valuation, John O’Sullivan, told the Dáil Public Accounts Committee that an analysis of evidence on rents had indicated the prices paid for retail properties had moved ahead of those for industrial and office premises in relative terms.