Rates resolution reached for Victoria Square Apartment owners
Date published:
Land & Property Services (LPS) has today announced that the owners of the Victoria Square Apartments will no longer be liable for rates, and refunds will be issued for rates paid since April 2019.
The valuation of properties within the Victoria Square apartment block has been subject to review by LPS as part of an ongoing valuation appeals process. This was reassessed following the High Court Judgment earlier this month. Given the specific and complex set of circumstances faced by the owners in this case, LPS no longer considers it reasonable from a rating perspective to conclude the properties are rateable and has determined the impacted properties can now be removed from the Valuation List.
Commenting on the rates resolution, Finance Minister Caoimhe Archibald said: "The owners of the Victoria Square Apartments have endured significant turmoil having found themselves in a difficult situation through no fault of their own.
"I have been determined to find a way forward in respect of rates for the Victoria Square Apartment ratepayers.
“I’m now able to announce that Land & Property Services will be writing to the residents impacted to inform them there will be no further rate bills, rates paid will be refunded, rate arrears will no longer be pursued and any court action will be ceased.
“I hope this positive outcome will provide some relief to the residents.”
The Minister concluded: “I am committed to working with Ministerial colleagues to help residents.”
Notes to editors:
1. The rates refund for Victoria Square Apartments will be circa £170k with the rates arrears circa £396k.
2.Media enquiries should be addressed to the Department of Finance Press Office on Tel: 028 9081 6724 or email dof.pressoffice@finance-ni.gov.uk.
3.To keep up to date with news from the Department you can follow us on the following social media channels:
- Twitter - @dptfinance
- Facebook - @dptfinance
- Instagram - @department_of_finance
- LinkedIn - Department of Finance
4. The Executive Information Service operates an out of hours service For Media Enquiries Only between 1800hrs and 0800hrs Monday to Friday and at weekends and public holidays. The duty press officer can be contacted on 028 9037 8110.