THE confidence of business owners in Mold has been dealt a blow over fears of a massive tax hike, according to town leaders.
Mold Town Council believes a recent business rate revaluation exercise, which left many traders anticipating a huge increase in their payments, has affected the town’s retail sector.
Business owners received letters from the Valuation Office Agency (VOA) stating that the rateable value of their premises had shot up prompting then to believe they would be hit with huge rate rises.
Business rates are calculated by a multiplier set by the Welsh Assembly government, which is then used alongside the rateable value to determine the actual rates payable.
However, last week the Welsh Assembly Government announced it would cut the multiplier from 0.489 to 0.409, which should result in reductions for 64,000 businesses across Wales.
Delyn AM Sandy Mewies said: “Once again the Assembly government is offering practical solutions to helping businesses through this economic downturn.
“I know it will be appreciated by the businesses, which have asked me to raise the issue with ministers.”
The council has written to Andrew Davies, Minister for finance and public service, and Deputy First Minister Ieuan Wyn Jones outlining its dismay at the handling of the exercise.
Town centre manager Dave Hill said in his letter: “Substantial upset could have been avoided if the correspondence from the VOA had been properly communicated, but going beyond that there are a number of very concerned, and some frightened, local businesses.”
Welsh Conservative AM Mark Isherwood is now calling for ministers to address the concerns of the traders.
He has also written to the ministers asking them to give urgent attention to the letter from Mold Town Council and confirm their intended course of action.