Businesses in North Norfolk set to receive £1 million rate relief
Around 850 businesses in North Norfolk are set to benefit from rate relief of more than £1 million over the next five years.
North Norfolk District Council will be distributing the money which has come from central government. It is to help businesses, as well as pubs, which have seen a hike in their rates following recent revaluations.
The bulk of the money will come in the form of Local Discretionary Revaluation Relief scheme. It is expected that about 700 businesses will receive new lower bills through this and most of the money will be distributed this year.
In addition, Supporting Small Business Relief will target businesses which lost rates or rural rate relief and it is thought about 80 pubs will be better off due to Pub Relief.