Photo: Elesa KurtzFinance manager George Cassimatis

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Increase pressure on the business, either through the rates directly or the transfer of the rates to that business overheads, then there’s even more reasons for the banks to not continue finance arrangements with that business,” Ms Scott said.Evri Group has owned 220 Northbourne Avenue in Braddon since 2000, and has had the ACT government as a long time tenant.Evri Group finance manager George Cassimatis says the group’s tenant, the ACT Valuation Office, quadrupled the value of its block, leading to a huge increase in its rates bill. Photo: Elesa KurtzFinance manager George Cassimatis told an ACT Legislative Assembly inquiry the group did the government a favour by putting off a planned redevelopment of its Macarthur Avenue intersection block until the government’s new office building next to the ACT Assembly was built.Then the Valuation Office turned around and revalued the block from $5.88 million to $24 million, pushing the group’s rates bill from around $100,000 to $634,000. Their 2018 bill rose to $1 million and increased again to $1.4 million in 2019.The valuation was later reduced to $21 million through an ACAT appeal, although the legal and expert report costs will soon outstrip the savings they made on their rates bill.”It’s grossly unfair in my opinion that the government can do that,” Mr Cassimatis said.”We’ve done the government a favour and said ‘you can stay here for a few more years until your building’s done’, and then they’ve turned around and said ‘your rates have gone from here to here, thanks for that’.”The committee heard the rates charge was putting pressure on businesses in a number of ways.

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