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Dáil Éireann debate -
Tuesday, 27 Feb 1996

Vol. 462 No. 2

Written Answers. - Rateable Valuation of Marts.

Mary Coughlan

Question:

77 Miss Coughlan asked the Minister for Finance if he will consider changing the method of calculating the rateable valuation of livestock marts, from that based on square footage to that of turnover; and if he will make a statement on the matter. [4405/96]

The basis of rateable valuation of commercial property is net annual value (NAV), i.e. the rental value of the property. The factors that determine rental value include the operations of the property market, changes in economic conditions, the profitability of business and changes or developments to property. The courts have decided that in arriving at the net annual value, the valuer is not required to use any particular method of assessment but may use the method most appropriate to the circumstances of the property. Any ratepayer dissatisfied with a valuation or the method of calculation can appeal to the Commissioner of Valuation in the first instance and, subsequently, to the independent Valuation Tribunal. There is a further right of appeal to the High Court and ultimately to the Supreme Court on a point of law.

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