COMHAIRLE CONTAE ÁTHA CLIATH THEAS
SOUTH DUBLIN COUNTY COUNCIL

MEETING OF SOUTH DUBLIN COUNTY COUNCIL

Monday, May 10, 2010

QUESTION NO.9

QUESTION: Councillor E. Tuffy

To ask the Manager if he can advise if the new system of commercial valuations devised by the Valuations Office and currently operating in South Dublin and Fingal will result in periodic revaluations of commercial premises/properties in the County if rental levels fall as a result of NAMA activities and decline in property values?

(to be circulated)

REPLY:

The following information was obtained from the Valuation Office in response to this enquiry – “The revaluation provisions contained in the Valuation Act 2001 provide for regular revaluations.  The legislation provides that once a revaluation has taken place in a local authority area a subsequent revaluation must take place no later than 10 years or no sooner than 5 years after the last revaluation. Therefore the earliest date on which the next revaluation for South Dublin Co Co can be published is 31st December 2012, and the latest date is 31st December 2017.

 

The purpose of a revaluation is not to increase the total amount of rates collected by a rating authority but to redistribute the commercial rates liability more equitably between ratepayers.

 

The commercial rates income of the local authority is capped in the year following a revaluation. Therefore a general increase or decrease in property values will not increase or reduce the total amount of rates collected by a local authority. 

 

The first South Dublin Co Co revaluation led to a redistribution of the commercial rates burden between ratepayers and any subsequent revaluation is likely to also have a redistributive effect.  However it’s the relative value of properties to each other rather than the absolute value of an individual property, which will determine whether a property’s rates liability will decrease or increase following a revaluation.”