2024 Updates to Commercial Rates in Ireland | McGrath Mullan Law
Notes re Commercial Rates
Changes have been introduced to commercial rates which will affect all vendors and purchasers, landlords and tenants in commercial premises.
Since 1st January, the ‘liable person’ is the occupier or person entitled to occupy (the owner where the building is vacant).
There is an obligation now to advise the local authority within 10 days of any change taking place in the ‘liable person’. The onus is both on the vendor and purchaser and the landlord and the tenant.
Even an owner moving into their own formerly vacant building must now notify the local authority.
Rates must be paid before any sale is concluded i.e. not out of the proceeds of sale. Unpaid rates will gather 8% annual interest. It is criminal offence not to notify the local authority!
Julie Mullan, Partner, has extensive experience in all aspects of residential and commercial conveyancing including residential and commercial purchases and sales, leases of commercial properties etc. Contact Julie if you would like assistance with any of these matters.