Ivan Yates
Ceist:191 Mr. Yates asked the Minister for Finance if there will be an increase in total revenue to local authorities arising out of the rateable value changes under the Valuation Bill, 2000. [24998/00]
Written Answers. - Local Authority Funding.
The Valuation Bill, 2000, provides that the revaluation process under the Bill results in the overall rates income of a local authority increasing by a rate not greater than a specific percentage provided for inflation as measured by the consumer price index (CPI). Specifically, section 56 of the Bill provides that the Minister for the Environment and Local Government shall, with the consent of the Minister for Finance, make an order requiring that each local authority ensure that the rates take in the year following revaluation should only increase by an amount equivalent to the CPI increase from the year preceding revaluation to the year in which the valuation is carried out.