M&CC seeking revaluation of property rates for large corporations, businesses

The Georgetown Mayor and City Council (M&CC) yesterday signaled that it would be seeking updated property rates for several large corporations and businesses operating in the capital, including the New Building Society (NBS), GBTI and Bounty Supermarket.

In a press release yesterday, the M&CC said they have written to the Valuation Department of the Ministry of Finance seeking its assistance so that council would be able to “collect its correct amount of property rates” from the companies.

At the top of the list of 23 companies identified by the M&CC yesterday was the NBS, which has recently taken legal action against the city in relation to its controversial metered parking project.

Other businesses identified were Caricom General Insurance, Full Works Motor Spares, Best Buy Pharmacy, May’s Shopping Centre, Ashley Fashion, Shoppers Paradise, Chetsons, Oceanic Trading Company, Torginal Paint/Continental Agencies Ltd, US Wireless and Gift, Riaz Computer Centre, Young’s Photo Studio, Gabriella’s Trading Wholesale and Retail, Guyana Oil Co. Ltd, GBTI, Bounty Supermarket, Fullworth’s Curtain Store, Rong Xin Mao Trading, Yong Quiang, Super Star Trading, Julius Variety Store, and R. Bassoo and Sons Ltd.

The M&CC release noted that despite making several upgrades to the buildings housing the businesses years ago, they continue to pay the same residential rates to the council. These upgrades included construction of new buildings, extensions of existing ones, and change of use from residential to commercial.

City Hall claims that the businesses’ failure to pay the appropriate rates creates a deficit, “which when coupled with the neglect of other property-owners of their civic responsibility, continue to impede and restrict the ability of council to deliver municipal services to local communities and the city as a whole.”

They further urge all property owners to settle their accounts with the City Treasurer’s Department and support the municipality in its effort to make Georgetown a clean, green, safe and healthy city for all.