Cork City Council has approved a 5% increase in commercial rates despite warnings from Cork Business Association that it could lead to more business closures
At it's annual budget meeting the City Council agreed a budget of €362.2m for 2026, representing an increase of approximately €35.7m over last year's.
Along with the rates increase the Council is reintroducing a rates incentive scheme which will give a 4% rebate for all ratepayers who have an annual rates liability of up to €4,000.
Chief executive Valerie O’Sullivan says the preparation of the budget had “proven to be very challenging”, and that income from commercial rates represents 30% of the council’s total income.
