asked the Minister for Finance if his attention has been drawn to the practice recently introduced by the Valuation Office of adding a valuation of the value of the milk quota to the market value of dairy farms in family farm transfers; whether this practice will create a considerable disincentive to the transfer of holdings to young farmers because of the additional stamp duty payable; and if he has proposals to remove this disincentive.
Written Answers. - Family Farm Transfers.
46.
I am aware that the availability of a milk quota is one of the factors taken into account by the Valuation Office in assessing the market value of agricultural land. For stamp duty purposes, a milk quota is property which attaches to land and which is valued in conjunction with lands which are being leased or transferred. This is in line with normal practice for other types of property.
In providing a valuation service for the Revenue Commissioners for stamp duty and other capital taxation purposes, the objective of the Valuation Office is to estimate the accurate value of a holding and the question of creating disincentives to the transfer of family farms does not arise.