Rates review leaves local authorities out of pocket after confirmation of no Government compensation

Local authorities are facing multi-million funding shortfalls following confirmation that there will be no Government compensation this year following a rates review.

The global valuations review, which focused on the rates liability of companies with a presence in several counties, included utility service providers such as the ESB and a range of mobile phone companies.

The first review of its kind since 2010, it led last November to a massive €112m reduction in the valuation of property held by Gas Networks Ireland, Iarnród Éireann, and telecoms giants BT Ireland, Eircom, Vodafone, Three, and Meteor.