Vol. 467 No. 1
97 Dr. O'Hanlon asked the Minister for Finance if his attention has been drawn to the concern of many ratepayers in smaller towns whose rates are increased when they improve their shopfronts, whereas if they move to a designated area in a larger town they receive tax relief; if he will ensure that business people who improve their premises are not penalised; and if he will make a statement on the matter. [12483/96]
The basis of rateable valuation of commercial property is net annual value i.e. the rental value of the property. Under the Valuation Acts any improvements, alterations of change of use that affects the rental value of a property must be taken into account in assessing the rateable valuation. The provision of a new or improved shop front might or might not lead to a change in the rateable valuation. The urban renewal scheme has been instrumental in transforming many formerly derelict areas of our larger towns and cities. The availability of a sliding scale of rates relief to businesses has been an important element in the urban renewal scheme.
Any ratepayer dissatisfied with a valuation assessment has a right of appeal to the Commissioner of Valuation, in the first instance, and, subsequently, to the independent Valuation Tribunal.
