High street retailers in Ramsgate will suffer the largest increase in business rates in Kent over the next two years, according to findings by a global real estate agency.

Taxes on commercial premises in the town will increase by more than a quarter after the Government conducts its review in 2017, according to research by Colliers International.

Yet a short way down the coast, Dover is expected to enjoy the county’s largest decline in business rate payments, down 41.3%.

The research paints a mixed picture of increases and decreases across the main retail centres in Kent.

Affluent areas like Tunbridge Wells and Sevenoaks should expect large increases of 17.4% and 11.6% respectively.

Meanwhile, areas with like Chatham (down 24%), Gravesend (35%) and Gillingham (23.1%) should expect large falls in their rates.

David Foley, chief executive of Thanet, East Kent and Dover Chamber of Commerce, said: “Such steep increases will inevitably deter investors and encourage start-ups to look elsewhere.

“Dover companies will take little comfort from a projected 41% cut as many are yet to recover from a summer of discontent when Operation Stack caused so many problems for staff, suppliers and customers.

“Business rates are a jobs tax and one of the greatest concerns for local companies. When the Kent economy is growing again, a hike is the last thing we want.”

The Government is due to publish a revaluation of business rates in 2017, calculated by multiplying the rateable value of a business with a ‘multiplier’ set by the Treasury.

Colliers predicts the multiplier will be set at 49.8p in England, “because of a psychological and political dimension which will drive the new headline multiplier

to a figure below 50p in the pound”.

It advises firms to start planning now for the impact of the changes.

John Webber, head of rating at Colliers International, said: “The 2017 rating revaluation will produce the largest changes to business rates for high street retailers in a generation.

“We now understand that the bulk of assessments have been made and local councils are very nervous about widespread reductions in business rates revenue.

“Our message is clear: retailers need to start planning for these changes.

“Budgeting to allow for this should be addressed now and we hope that our data serves as a wake-up call a clear 12 months before the Government publishes the final details.”

The research examined 431 retail centres across the UK. Of these 324 are predicted to see a decrease in business rates for retailers, with 21 experiencing no changes.