Causeway Coast and Glens Borough Council has struck its new district rate for April 2024 to March 2025 at 6.86%.
The figure, agreed by elected members at a special meeting on Thursday night (February 8), means that a business with a Net Annual Value (NAV) of £10,000 will see an increase of £189.56 to its annual rates bill, or £3.65 per week.
For householders, the effect of the increase will be £38.17 per year, or 73p each week, based on a house with the Borough average capital value of £124,728.
Mayor Steven Callaghan said: “Like all businesses and organisations, Council faces significant financial pressures, including utility costs, increased insurance costs and high levels of inflation, all of which are putting considerable strain on revenue.
“In setting the £63.5m budget for 2024/25, Council has taken these factors and many others into account, including a substantial pay award for our hard-working staff.
“Waste management is an area that presents significant financial challenges, particularly as our last operational landfill site is expected to reach capacity and close in the coming months.
“Another aspect is the ongoing uncertainty around the level of the Rates Support Grant from the Department of Communities. The reduced level of this funding over recent years continues to place additional budgetary pressures on Council.
“Thanks to close financial monitoring, Council’s inherited borrowings have been reducing steadily over recent years, now standing at just under £50m. As a result, we have been able to reduce our projected interest payments.”
Meanwhile, Lisburn and Castlereagh City Council’s rates will increase by 3.98%.
Corporate chairperson, Owen Gawith of the Alliance Party, whose committee proposed the rates, alluded to a forecast capital spending of £128m for the coming year with some caution in the chamber of the spend.
“These are difficult times, not least because of the cost of living crisis, we do understand the current squeeze on households and local businesses,” he said.
“I am pleased that the council has taken the decision to freeze prices across our leisure services, car-parks and a range of other corporate services.”
Some of the figures the council is looking at for 2024/25 include £29.7m for a range of capital projects, including renovations to Dundonald Ice Bowl, which is due to break ground in a few weeks’ time.
Mr Gawith continued: “I expect that Lisburn and Castlereagh City Council will continue to have the lowest district rate for households in Northern Ireland and one of the lowest for businesses.”
Councils here have voiced alarm over the potential impact of huge rates rises on families and businesses.
With the new Executive expected to decide soon on revenue raising proposals, officials have warned their task of deciding local rates rises is being hampered.
Many other councils are preparing to strike their district rates in the next few weeks amid speculation the regional rate, which is set by Stormont, could be around 15%.
The district rate pays for multiple public services, across each borough in NI.
This includes:
William Turner is a seasoned U.K. correspondent with a deep understanding of domestic affairs. With a passion for British politics and culture, he provides insightful analysis and comprehensive coverage of events within the United Kingdom.
