22/02/2010 - Empty business premises rate frozen
The rating of empty business premises is to remain frozen at 50%, Stormont Finance Minister Sammy Wilson has said.
Following a evaluation of the scheme by his department, Mr Wilson said levying the charge had been a success and was discouraging properties from being left unused.
The 50% level for the rating of empty commercial properties was introduced in Northern Ireland in 2004.
Mr Wilson said: "Levying rates on empty commercial premises is a move which, the evaluation shows, is working reasonably well.
"Allowing commercial properties to lie empty is not good for the economy and, ultimately, not good for business.
"I still feel it is right to make empty premises liable for rates to both contribute to the funding of public services and help encourage the property quickly back onto the market."
The decision to keep the level at 50% contrasts with the position in England and Wales where rates are charged at the full 100%.
There have been calls for increased relief for owners of empty properties in light of the economic downturn.
Copyright © Press Association 2010
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