Tipperary Councillors are meeting today to approve a budget for 2023. The budget for the county is costed at €205.7M an increase of 5.8% on 2022.
The council has identified 5 main challenges in terms of inflation, economic uncertainty, energy cost increases, increasing demand for services, a lack of buoyancy in revenue sources such as LPT and commercial rates and ongoing costs relating to the pandemic.
Councillors are being asked to approve an 7% increase in commercial rates for larger businesses and to approve proposed changes in the amount of the rebate given to commercial properties that are vacant.
The council is seeking the rate increase to provide an annual income stream to provide income to repay loans taken out to provide matching funding for funding from state programmes.
The council proposes to expand the Early Payment Scheme to protect ratepayers with a rates bill of up to €12,500.
A 6% reduction will be allowed for early payment up to a maximum reduction of €600.
Details of the planned capital programme show expenditure of €118 of which €43 is provided by the Council and seeking €75M funding via loans at a cost of €4M per annum for 20 – 25 years.
The rates increased in intended to provide the funds for repayment of these loans.
