Donegal County Council meets in Lifford today to consider its draft budget for 2024.
It’s envisaged the council will spend €185,577,941 in 2024, with a new Annual Rate on Valuation of .232 following last year’s revaluation programme.
In his introduction to the draft budget, Chief Executive John McLaughlin says it’s a very challenging but positive budget, in the midst of the effects of high inflation costs over the last two years.
He adds it’s a time of great opportunity, and the Draft Budget is structured to do the very best for Donegal and its place in the wider North West region.
Mr McLaughlin says the Council has not increased Commercial Rates since 2019, and does not propose to do so above the indicative ARV of 0.232 advised to businesses and commercial property owners during the countywide revaluation in 2023.
However, he warns that given the rising costs facing the Council, and the need to provide for much needed work, it is expected that Commercial Rates will need to increase in future years, and it is planned to engage in that discussion during 2024.
The council’s Head of Finance Richard Gibson says the draft Budget for 2024 provides for total expenditure of €185,577,941 and anticipates income of €145,276,272 from a range of services and sources including Local Property Tax, rents, fees, charges, loan repayments, grants, recoupments, Internal Capital Receipts (ICRs), reserves, and NPPR charges. The balance of €40,301,670 will be funded from Commercial Rates.
