Vol. 471 No. 1
35 Mr. Deasy asked the Minister for Finance his views on whether the rateable valuation on business premises should be based on their variation with usage, with particular reference to holiday resorts and other seasonal facilities. [20286/96]
The basis of the determination of rateable valuation of commercial property is net annual value i.e. the rental value of the property. Among the factors that determine rental values are: the operation of the property market, changes in economic conditions, the profitability of a business and changes or developments to property.
In arriving at the net annual value, the valuer has regard to the actual state of the particular property and all relevant factors that have a bearing on the value of the property. These will include seasonal factors. Rateable valuations assigned to properties in seasonal holiday resorts reflect the degree of seasonality and its effect on business in these resorts.
Any ratepayer dissatisfied with a rateable valuation or the method of calculation can appeal to the Commissioner of Valuation in the first instance and subequently 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.
