Vol. 521 No. 3
113 Ms Cooper-Flynn asked the Minister for Finance the reason the rateable valuation for a business (details supplied) in County Mayo is significantly higher than any of its competitors doing the same business in County Mayo. [17010/00]
The basis of rateable valuation of commercial property is net annual value, that is, 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, royalties or tolls received and changes or developments to property. A central tenet of the rating valuation code is uniformity and equity between ratepayers.
The owner or occupier of any property, the rating authority or a representative of the Commissioner of Valuation can apply at any time to have the rateable valuation of any property revised. Any ratepayer dissatisfied with a revised rateable valuation can appeal to the Commissioner of Valuation in the first instance and subsequently to the Valuation Tribunal. The Valuation Tribunal is an independent body set up to settle disputed valuations between the commissioner and ratepayers or rating authorities. There is a further right of appeal to the High Court and ultimately to the Supreme Court on a point of law.
The property referred to in the details supplied is described in the valuation list as Quarry-Sandpit, Workshop and Land with £45 rateable valuation attributable to buildings and £440 rateable valuation attributable to the quarry-sandpit. The buildings rateable valuation of £45 dates from an agreement following an earlier appeal in 1992.
Mayo County Council applied for a revision of the rateable valuation of the property in 1998. Following this revision a rateable valuation of £350 was ascribed to the quarry-sandpit element of the property. No change was made to the £45 rateable valuation attributable to the buildings. Agents acting for the occupier appealed the matter to the Commissioner of Valuation.
At appeal the commissioner increased the rateable valuation attributable to the quarry-sandpit to £440. This decision was subsequently appealed to the Valuation Tribunal. The tribunal heard the case on 12 April last and affirmed the rateable valuation of £440 and £45 for the quarry-sandpit and the buildings respectively. The Valuation Tribunal in arriving at its decision heard evidence from professional witnesses on both sides.
