Local authorities may be losing tens of millions of euro due to backlog in rates revaluation

Commercial rates, which are levied on commercial and industrial properties, provide about 26% of all income for local authorities and generated revenue of €1.7bn in 2022. File picture: Larry Cummins

Delays in processing applications for the revision of valuations of commercial properties could be costing local authorities tens of millions of euro in revenue from rates every year, according to the local government spending watchdog.

A new report by the Local Government Audit Service (LGAS) warned the country’s 31 city and county councils are losing potential income if applications to revise valuations on rateable properties are not decided in the same year as they are submitted.