Michael Ring
Ceist:191 Mr. Ring asked the Minister for Finance whether publicans are valued differently than retailers for rates purposes. [6922/98]
Written Answers. - Property Rates.
The basis of rateable valuation of all commercial property, including licensed premises, public houses, is net annual value, NAV, the rental value of the property.
In determining the NAV, the valuer has available a number of valuation methodologies. The courts have decided that the valuer is not required to use any particular method of valuation but may use the method most appropriate to the circumstances of the property.
The most frequently used method for valuing retail premises is the direct comparative approach in which the values of similar properties are taken into account. Licensed premises are also valued in this way. Where there is a lack of direct comparative evidence, the profits, or receipts and expenditure, method is used. This method is appropriate in the valuation of properties, like licensed premises, where volume of trade is central to the value of the premises.
Any ratepayer dissatisfied with a rateable valuation or the method of calculation can appeal to the Commissioner of Valuation in the first instance and subsequently 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.