Over 100 business waiting to be rated in Mayo

Council could borrow money from other local authorities

Cllr Michael Loftus

Cllr Michael Loftus

There are over 100 properties that still have to be rated by the Valuation Office - meaning that Mayo County Council cannot levy a commercial rate on them at present.

Fianna Fáil Cllr Michael Loftus raised the issue at this week's meeting of Mayo County Council, saying: "On rates, I look at the figures for today of €25.8 million and 88 per cent collected where as in 2018, €23 million was collected and 82 per cent, which is an increase, how many other locations have been rated and is there numbers of other buildings that haven't been rated in the county at the moment by the rates office?"

Head of finance for Mayo County Council, Peter Duggan, told Cllr Loftus that: "There is a continuing problem for this local authority and other local authorities and that is getting properties valued. We have well over 100 that we are waiting to be listed to bring onto our books and we cannot level a rate on them, be it property entry level or commercial rates, until they get onto the valuation list and therein lies the problem."

Cllr Loftus also queried whether there was potential for Mayo County Council to borrow money from other local authorities if needed, rather than from other institutions. He told the meeting that he had been informed by a member from Fingal County Council that they put €20 million on deposit during their budgetary process last year.

Mr Duggan told Cllr Loftus that: " In relation to inter-local authority borrowings, we can do that but the same stipulations apply as to normal borrowings - they need to be approved first by this council here and any indebtedness needs to be sanctioned by the Minister, we would have to go through those - there is nothing to stop us.

"It would be financially unwise to borrow for day to day funding, but capital would be Ok. I'm sure they would be looking for some form of return, but it is open to us."

Advertisement

 

Page generated in 0.1439 seconds.