OVER £3.6 MILLION SAVED IN REVALUATION
Christina McKelvie MSP and Angela Crawley MP have welcomed the 2017 rates revaluation as “excellent news for Hamilton”.
The revaluation means a drop in rateable values in Hamilton of over £3.6 million. This represents a decrease of 24% in non-domestic rates within the Business Improvement District area.
The impact of the revaluation, in combination with the increase in the threshold for the Small Business Bonus Scheme to £15,000, means that almost 200 of the town’s businesses will be exempt from paying business rates.
The revaluation follows a joint report produced by both politicians on the town centre, in which they called for action to be taken on business rates.
Commenting, both Angela and Christina said:
“This year’s rates revaluation can only be viewed as excellent news for business in Hamilton.
“We know from our town centre report that disproportionately high business rates are a barrier to trade and investment. So to see the rates revaluation reduce business rates by 24% in Hamilton and for almost 200 businesses to be taken out of rates all together is extremely welcome.
“These figures demonstrate the huge success of the Small Business Bonus scheme for our town centre – helping more and more companies reduce their overheads and stay in business.
“The Scottish Government have shown real leadership on business support, and their actions will go some way to helping our towns regeneration.
“However, despite the welcome news on rates, more has to be done to bring more people, business and jobs back to Hamilton.
“Parking charges, traffic management and the upkeep of the town centre are still huge issues that remain unanswered. We will continue to campaign for further change to help ensure our town centre thrives once again.”