TUV welcomes rates rethink for Lower Church Street traders

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Lower Church Street traders are set to benefit from rateable values in the area being reduced, it has been revealed by a local MLA.

TUV MLA Jim Allister said: “Upon the publication of DFP’s rates revaluation proposals, it was clear the businesses in Lower Church Street were getting a raw deal, with a lesser reduction than several comparable streets and inadequate regard to the level of vacancy in the street.

“Upon Cllr Timothy Gaston and I meeting the local traders, we set in train a process of seeking review of the proposals and to this end I met, along with the traders, with relevant valuers from Land and Property Services.

“Having made the case for further reduction, I am pleased to have now received confirmation that the rateable values in Lower Church Street will now be reduced further from the present rate of £225/sqm to £175/sqm. I welcome this further reduction, believing it better reflects the trading situation in this part of the town.”

Commenting Councillor Timothy Gaston said: “In these tight times every little helps our town centre businesses. So, I’m glad to see this further reduction and the savings which it will bring year on year to these traders.”