Causeway Coast and Glens Borough Council has struck its new annual rate at 4.79% for the local businesses. The equivalent increase for householders is 7.95%
The figure, agreed by elected members at a special meeting on Tuesday 14th February 2023, means that local ratepayers will continue to have one of the lower cumulative rates increases since the merger of Councils in 2015.
Businesses in the Borough with a Net Annual Value (NAV) of £10,000 can expect to see their weekly rates bill increase by £2.43 whilst for householders the equivalent figure is £0.79 (based on a house with the Borough average capital value of £124,728).
Commenting on the decision, the Mayor of Causeway Coast and Glens Borough Council Councillor Ivor Wallace said: “Despite the challenges faced by the organisation around energy, fuel, insurance, payroll and most importantly reducing central government funding, members are committed to making efficiency savings to mitigate the pressures on ratepayers who we recognise are greatly impacted by rising living costs, at this time.
“As an organisation we face similar pressures– we have facilities to light and heat, vehicles like our refuse collection lorries to fuel and general maintenance and running costs. Unprecedented rises in utility and energy costs along with other factors including the ongoing health crisis and uncertainty around central government funding, has meant the organisation has been faced with almost £7.2m of additional financial pressures beyond our control.
“Despite this challenging backdrop, Council has agreed to realise approximately £5.6m in savings and additional income which has allowed the rate to be held at well below inflationary value which will be significant for our residents. We anticipate that our overall rates increase since the Council’s inception will remain one of the lowest across Northern Ireland, while we continue to deliver excellent frontline operations and an extensive portfolio of facilities and services for ratepayers.”
In the past year, Council has completed several significant projects including a £3.3 million regeneration of Portrush Recreation Grounds which will further enhance the resort ahead of the return of The Open in 2025.
Over the next five years, Council remains committed to the continued delivery of an ambitious capital programme, including a £72m Growth Deal, £2m Covid Recovery Small Settlement Regeneration Programme and £3.3m from the Levelling Up fund.
Collectively, this will compliment previous infrastructure investments in the Borough, for the benefit of all those who live, work, and visit here.