Regional Rate Order 2016
On 22 February the Assembly approved the Regional Rates Order 2016, which fixes the amounts of the regional domestic and non-domestic poundage used for the next financial year. For 2016-17, both the domestic and non-domestic regional rate in Northern Ireland will be uplifted in line with inflation by 1.7%.
The Assembly also agreed to continue the Empty Shops Rates Concession and the Rural ATMs exemption for a further year.
From 1 April 2016 the domestic regional rates, expressed in terms of ‘pence per pound of rateable value’, will be 0.4111 pence and the non-domestic regional rate will be 32.40 pence. Taken together, the domestic and commercial regional rates are forecast as part of the Budget to raise in the region of £660m in the forthcoming financial year.