Oireachtas Joint and Select Committees

Thursday, 18 July 2013

Public Accounts Committee

2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office

11:20 am

Mr. Declan Lavelle:

I do, yes. The market is much more sophisticated now than it was during the Celtic tiger period. The Deputy talks about looking at a particular rent. If we look at a particular rent and if there is an upward-only rent review clause we will make whatever adjustment we need to reflect what one would call an open market transaction at our valuation date.

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