asked the Minister for Finance if it is proposed to carry on with the procedure of revaluing domestic dwellings; and if so, the plans he has in this regard.
Ceisteanna—Questions. Oral Answers. - Domestic Dwellings Revaluation.
15.
As I indicated in my reply of 31 January last, the practice of valuing domestic property is under review in the light of the abolition of domestic rates.
However, in so far as the Deputy seems to be inquiring why any form of valuation of domestic property should continue at all, I can tell him that, as indicated in my reply to his earlier question, the up-dating of the domestic valuation base for each rating authority will have to continue. Otherwise the Government grant to the rating authority in relief of domestic rates would be based on a domestic valuation list which would become more out of date each year since no allowance would be made for additions to the list resulting from new house building and house improvements. Thus the rating authority would get less from the domestic rates grant than if domestic rates had been allowed to continue.
As to the actual method of keeping the domestic valuation list up to date, this can be done either by continuing to value domestic property on an individual basis or by substituting a method of valuation on an aggregate basis for each rating authority. The issues involved in this question are complex however and no final decision has yet been taken in the matter. I regret that for this reason it will not be possible for some time yet to give the definitive answer which I promised the Deputy last month.