Mixed bag in rates review for business
An overhaul of business rates on firms in Perth and Kinross could spark a series of appeals against proposed significant increases in bills.
Major employers such as at the Gleneagles Hotel face an increase of nearly £700,000 on its rateable value, which would leap up from £2.36million.
But the revisions will also see relief for High Street operators including Debenhams and Primark, as their rateable values are on course to be slashed by up to £41,000.
A council spokesperson gave a cautious welcome of the revalued rates, which are due to come into force from April 1.
“The announcement of the new national rateable values for 2017 is in line with what we expected.
“High streets in most towns and cities will see the most benefit from the new rateable values.”
The spokesperson said this‘good news’ would boost the resilience of town and city centre traders up to the medium, but they added:“The news isn’t as positive for every industry, some of which are key sectors here in Perth and Kinross.”
The council says it will monitor the impact on the sectors as the new rateable values take hold.
As well as Gleneagles, where the issue of rateable values was contested in 2014, Crieff Hydro stands to fork out an additional £424,000 a year.