The new city council finance convener has tabled a £4.1million business rates relief package.
Douglas Lumsden, the Conservative group leader at the Town House, said “swift action” was required on the crisis.
Concern has been growing for months over a perceived lack of action from the local authority to help tackle rising rates.
The Scottish Government belatedly responded to criticism in February by capping rates increases at 12.5% in the hard-pressed hospitality and office sectors after months of growing unrest.
The rises in Rateable Value (RV), with some firms facing hikes of up to 250%, have proved particularly contentious in the north-east, because they are based on 2015 property values before the full effects of the oil downturn were felt.
The previous administration came forward with a £3million relief package -but insisted it would not be implemented unless Holyrood matched that sum.
The opposition SNP group pledged a £4million scheme if they won control of the Town House in the recent council election.
Douglas Lumsden has argued “swift action” was required to help struggling firms and confirmed yesterday £4.1million would now be put in place.
Under the plan, all businesses will now be capped at 12.5%.
Mr Lumsden, who is also Conservative group leader, said: “We said that business rates relief was a red line issue for us in negotiations with our coalition partners.
“We also made a clear commitment, prior to the election, that we would take swift action to help companies in Aberdeen affected by punitive rates rises.
“While we are still limited in what we can do due to SNP government cuts to our budget, we will provide more than £4million to help those sectors that did not benefit from the national relief scheme.”
SNP group leader Stephen Flynn said: “This looks like something we in the SNP would support and have indeed called for in recent months.
“It’s farcical this administration, during the last council term, failed to put any relief in place since February and it’s now only as we approach the start of June that businesses are being given some certainty.”
Last night, businessman Graham Moggford, who owns Bridges Nurseries in Bridge of Don and Westhill, cautiously welcomed the plan.
He said: “While I still think we are getting a raw deal, any help is very welcome.”
Jenny Laing leader of Aberdeen City Council said: “It is disappointing that the Scottish Government has failed to help businesses in Aberdeen despite Aberdeen City Council being the lowest funded council in Scotland.
“As leader of Aberdeen City Council I will always put Aberdeen first and thanks to the way in which we have managed the finances over the last 5 years we are in a position to help businesses this year.”