Dáil Éireann Debate, Tuesday - 18 September 2012
523. Deputy Nicky McFadden asked the Minister for Public Expenditure and Reform if he will provide an update on the national programme for revaluation of commercial and industrial properties; and if he will make a statement on the matter. [37784/12]
Amharc ar fhreagraThe work of the Valuation Office is underpinned by the Valuation Act 2001 which provides for the valuation of all commercial and industrial property. The Commissioner of Valuation is independent in the performance of his functions under the Act and the making of valuations for local authority rating is his sole prerogative. The statute does not accord me, as Minister for Public Expenditure and Reform, any function in this regard. In accordance with the 2001 Act, a national programme is being rolled out progressively for the revaluation of all commercial and industrial properties in the State. The revaluation programme aims to provide up-to-date valuations for individual properties across all economic sectors that are subject to local authority rates. The revaluation process is the mechanism whereby economic changes that take place in the property market are reflected in the valuation lists for rates purposes and in individual ratepayers’ rates liabilities. It is an important programme, especially given the significant changes in values and rents following the economic downturn of recent years. The purpose of a revaluation is to redistribute commercial rates liabilities among ratepayers based on up-to-date values. Following revaluation, there will be a much closer relationship between rental value and commercial rates liability. Revaluation of the Valuation List is not meant to reduce the amount of rates revenue collected. On average, businesses do not benefit from a revaluation although some ratepayers may benefit if relative valuations of different types of commercial property change. Overall, revaluation results in a fairer distribution of the rates burden.
The revaluation programme, which has been completed in three county council areas in Dublin, began in November 2005 in the South Dublin County Council area and has since been rolled out to the areas covered by Fingal and Dún Laoghaire-Rathdown County Councils. The revaluation of South Dublin was completed in December 2007, the revaluation of Fingal was completed in 2009 and the revaluation of Dún Laoghaire-Rathdown was completed in 2010. The revaluation of Dublin City Council area began in May 2011 and will be completed in 2013. The Commissioner signed valuation orders for Waterford on 12 December 2011 and Limerick on 29 March 2012. The Waterford and Limerick revaluations will be completed in 2013 and 2014 respectively. It is intended to extend the revaluation programme to further local authority areas as soon as it is practicable to do so but it is not possible at present to say where these areas will be. While the extension of the project to Dublin City is the major current focus and represents an important advance, the Commissioner has expressed his concern that the present rate of progress may not allow the Office to complete the job nationally within the ten years from 2008 which the Office previously indicated. With the intention of speeding up the revaluation programme, the Commissioner has indicated that two pilot schemes were to be undertaken on outsourcing some of the work and exploring the possibility of introducing a self-assessment scheme. The enabling provisions to allow for the start-up of these schemes are included in the Valuation (Amendment) Bill 2012 which was published on 3 August 2012 as part of the Government’s legislative programme.
