Rates

On Thursday 8 February 2024, Council agreed a District Rates increase for both Domestic & Non-Domestic properties of 5.17 percent for 2024-2025.

Councillors agreed a domestic rate of 0.5067p and a non-domestic rate of 29.9353. The effect on the average householder across the borough will be an increase of around £2.28 per month. For an average sized business within the borough, the increase is approximately £25 per month (or £300 per year).

Each year the council estimates the income and expenditure for the next financial year. Based on these estimates, a district rate is set for that financial year. This is the amount of money the council will need from ratepayers to deliver planned services.

The district rate is fixed annually by each council and this rate will vary from council to council, whilst a Regional Rate is set by central government at Stormont and applies to all Council areas.

On Tuesday 14 February 2023 the council agreed a Domestic District Rate increase of 4.83 percent for 2023-2024.

Councillors agreed a domestic rate of 0.4818p and a non-domestic rate of 28.4645p. The effect on the average householder across the borough will be an increase of around £24.50 for the financial year.

Each year the council estimates the income and expenditure for the next financial year. Based on these estimates, a district rate is set for that financial year. This is the amount of money the council will need from ratepayers to deliver planned services.

The district rate is fixed annually by each council and this rate will vary from council to council

To calculate your rates bill, use the rates calculator on the Land and Property Services website.

Your bill is calculated using three pieces of information:

• capital value of your home
• district rate -set by councils
• regional rate – set by central government.

Domestic rate bill for householders

The domestic rate bill is calculated as follows:

(Capital Value of your property) X (Domestic District Rate + Domestic Regional Rate) = Amount to be paid

Business rate bill

The business rate bill is calculated as follows:

(Net Annual Valuation of business premises) X (Non-Domestic District Rate + Non-Domestic Regional Rate) = Amount to be paid

Capital value

The capital value of your home is based on the amount the property could reasonably have sold for on 1 January 2005.

If you would like more information about the capital value of your property please visit www.finance-ni.gov.uk

Land and Property Services Rate Collection

Telephone: 0300 200 7801