Business Local

Increase in rates bill for Dublin city businesses

Dublin city businesses will have a 1% rates bill increase following a vote by councillors.

The annual budget meeting heard that the city council’s budget for next year will be €969.6 million.

The council’s Head of Finance Kathy Quinn said that there would have been a deficit were it not for a credit of €19.5 million largely because of difficulty in recruiting staff and a reduction in bad debts.

Ms Quinn said a “reasonable and modest” rate increase of 1% would raise an additional €3.8 million to pay for the rising cost of services.

The meeting heard that 58% of ratepayers pay less than €5,000 a year, but 2% of businesses pay for half the total bill of €338 million.

Fine Gael councillor Paddy McCartan said the Fine Gael group was opposed to increases as the majority of ratepayers are small businesses who have just recovered from a recession.

Lord Mayor Nial Ring said that 58% of them would be paying less than €1 a week extra.

Councillors agreed to keep the refund for vacant properties at 40%.