Rate-payers’ relief

Thursday, 22 February 2018

AN upsurge in construction across the Causeway Coast and Glens has been good news for rate-payers.
Ahead of last week's decision to freeze rates for the third year in succession, councillors were told that revenue from new developments is having a positive effect on the council's balance sheet.
A report issued to the Corporate Policy and Resources Committee says rateable base has expanded by 2.5 per cent.
Described by officers as "a very encouraging position" for the council," its understood to translate into a figure of around £1m.
And as the volume of planning applications continues to grow, accountants are anticipating further annual windfalls in the future.
This newspaper understands one major project in the borough nearing completion is expected to yield around £200,000 per year.
Others soon to begin generating rates, include the Department of Agriculture's new offices in Ballykelly.
“This is an encouraging indication of the strength of our rates base," stated the report.
“We now appear to be gaining the benefit of many of the recent increased planning applications, with those beginning to appear as properties on the ground."
*Read the full story in this week's Chronicle


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