The question of market value is one which is pretty difficult to answer because there is no doubt that the market value can go up and down in small districts as well as throughout the country. That we must all admit and to find a method of determining the market value of any holding is difficult. There are Deputies in this House, farmers by profession and occupation, who claim they know land and market value as well as any Land Commission valuer. I know I would not play second to any Land Commission valuer who ever went out to value a holding of land. Like Deputy Corry or anyone else who has lived on a holding I would be a very poor master of my occupation if I could not tell the difference between good land and bad as well as, or better than, any official of the Department. In this section paragraph (a) reads:—
"The said sub-section shall have effect with the substitution of the words ‘the amount to be so fixed shall be an amount equal to the market value of the land' for the words ‘in fixing such sum regard shall be had to the fair value of the land to the Land Commission and the owner respectively.'"
The difference between market value and a value which is fair to the owner and the Land Commission, respectively, is very little. If the Land Commission decide to give the value which is fair to the owner and to themselves they are first going to get as close as they can to the market value. In some cases they have been doing that and in other cases they have not. The Land Commission valuer can certain price on a holding of land. The person from whom the land is to be taken over then appeals to the Appeal Tribunal and in most cases there is a revaluation and the price is increased. Anybody who takes an interest in land knows that that has happened from time to time, but who is to determine market value and how is it to be fixed? The determination of the price to be paid for any land for a number of years past has rested with the commissioners of the Land Commission and it still rests with them. They act presumably on the reports they get from the valuers of the Land Commission. The valuer submits a report of what he thinks is the value of the land and leave is given to the owner to appeal. The whole thing is heard by the Appeal Tribunal and a bargain is struck between the two. I would be very cautious about giving the market value of land, especially if I thought it was going to fleece the Government, the Land Commission and the taxpayers in general in order to satisfy a whim or fancy of some individual from whom land will be taken over.
I have always said that I am not a great lover of the principle of market value. I am simply supporting it now as an experiment to see if it will bring more land into the pool to enable the Land Commission to help to relieve congestion. There is an effort being made now to arrive at market value, but if we carry on the system which has been carried on with regard to resumed land, I do not think that we will be far out. That will not be a perfect system and let nobody think that it will. The best valuer that you can get may be out £50 or £60 in valuation. What the Bill proposes may help to speed up the procedure with regard to the acquisition of land. There may be an easing up, and that will be all to the good. That is the only way in which I can imagine market value being arrived at.
Deputy Moylan, in his amendment, is urging that market value should be arrived at by taking the price paid for land in a locality in the preceding three years I do not know why he introduced such an amendment, because we all know that land values can vary very much in a year or two years. They may fall or they may rise.
I suppose it would be correct to say that over the past few years land values have risen considerably, but they may fall during the next three years. Therefore, would it not be wrong if the Land Commission had to carry on its work based on the inflated prices that have prevailed during the last three years? I think that we should give a discretion to the Land Commission and try, so to speak, to grade out prices. Let us be as hard as we can on the owner of land without being unjust to him. Let us try and strike a figure that will be reasonable. I want to repeat that market value is a very hard thing to define. I do not think it is a thing that can be arrived accurately at by anybody.