Brendan Griffin
Ceist:421. Deputy Brendan Griffin asked the Minister for Social Protection if she will make allowances on the means testing of properties that were inherited for qualifying payments. [5255/13]
Amharc ar fhreagraTuesday, 5 February 2013
Ceisteanna (421)
Freagraí scríofa
Social welfare legislation provides that the yearly value of “property owned but not personally used or enjoyed” is assessable for means testing purposes. Such property includes houses and premises which are owned by a claimant, including property which they have inherited, and which the claimant may or may not be putting to commercial use. However, it does not include property such as the home in which the claimant resides or, for example, a premises used by the claimant in carrying out a business.
For assessment purposes, the current market value of the property is established as well as the amount of any outstanding mortgages on that property. The balance (market value less outstanding mortgage) is assessed by reference to a formula. Where the current market value is less than the outstanding mortgage, no assessment is made. The current market value of a property is the best estimate of what would be achievable if the property was offered for sale. Such an estimate will have regard to reductions in prices over recent years. Given that background, I have no plans to change the assessment of property for the purposes of means tested social assistance schemes operated by the Department of Social Protection.