According to DTZ Sherry FitzGerald many of its clients cite rates as the third highest overhead, behind rent and staff costs. With the national revaluation currently under way and rateable values set to increase across all business sectors, DTZ Sherry FitzGerald is encouraging occupiers and landlords of vacant commercial premises in Galway city to question whether they could be paying less.
A self-assessment proposal is currently in bill form before the Houses of Oireachtas, and if passed, it is proposed that it will be introduced in Galway city as a pilot scheme.
Rateable values are set by the Valuation Office, and the historic basis involves reference to the valuation list and the application of a notional rental value (as of 1988 ). Following the national revaluation, the rateable values will be updated by reference to rental values at a specified valuation date.
The values proposed by the Valuation Office can be appealed by the rateable occupier. The team at DTZ Sherry FitzGerald have extensive knowledge in both the legislation and procedures involved with the revaluation.
DTZ is a market leader in the specialist field of rating and is highly experienced in providing a comprehensive rating service to all clients, with an enviable track record in achieving substantial rate savings.
DTZ Sherry FitzGerald, in conjunction with the Galway Chamber, will hold a free seminar on the National Rates Revaluation Programme in the Meyrick Hotel on Wednesday May 8 at 6pm.
For further information call DTZ on 091 569181.