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Thomas proposes rates be based on property size

Fri, 01 Mar 2019

The Island’s Policy and Reform Minister is proposing that domestic rates be calculated on the size of your property, rather than its rent-able value.

Chris Thomas launched a consultation yesterday on a ‘review and modernisation’ of the annual charge, which is levied to pay for local services.

Currently, home owners pay their rates based on the rent-able value of their property, though an Island-wide valuation hasn’t been undertaken since 1969.

This has led to disparity in the system, with properties of different ages and locations costing different sums despite their current value.

Minister Thomas argues this situation is ‘out of date and unfair’, and says the solution brought forward by his team is ‘easier and cheaper’ than reassessing property values with surveyors.

In this consultation, he’s proposed that rates be based on the ‘size in square metres of all the floors in a building’, calculated from aerial photographs.
 
Local Democracy Reporter Ewan Gawne asked Mr Thomas to explain this new assessment method:

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