Bucking the trend in the hospitality sector is the Seagoe Hotel which sees no change to its rateable value.
The Omniplex Cinema in Craigavon will see the rates rise by almost 82% from £110k to £200k.
Portadown Fire Station will also see a rates hike of almost 25% but Cascades Leisure Centre next door, which is due to close, will see a 25% drop.
Portadown Health Centre will see a drop of almost 41% in rates in April down from £345,500 to £204,000 - a drop of £141,500.
Mr Farrell said: “I think this is a step in the right direction but I have concerns about the rise in rates in the hospitality sector.”
He added that there needed to be a ‘radical reform’ of the ‘flawed rates system’ and called for online retailers to contribute to the rates system.
In total draft valuations for all 7,600 businesses in the Armagh City, Banbridge and Craigavon Borough Council area have been published online.
Known as Reval2020 – this process will result in a new non-domestic Valuation List being used to calculate business rate bills from April 2020.
The Department of Finance said: “This process is about restoring fairness in the rating system by redistributing basically the same rating burden using more up-to-date values. A revaluation is not about collecting more money from businesses, but it is about ensuring that everyone pays their fair share.”
Business rates are charged on most non-domestic premises including shops, offices, warehouses, factories, hotels and pubs as well as utilities such as gas, water, electricity and wind farms.
The results show a modest growth in the total value in the Armagh City, Banbridge and Craigavon Borough Council area of 5.4% compared to the current Valuation List which is based on 2013 values.
View the draft schedule of values at www.finance-ni.gov.uk/reval-2020-ni If ratepayers are unable to access the information online they can contact LPS on Tel: 0300 200 7801.