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

11:40 am

Mr. Declan Lavelle:

Not directly. If one is the hypothetical tenant and going to rent a shop on the main street, obviously, all these factors feed into the decision one will make in terms of the rental bid. That is, essentially, what our valuers are trying to do - to get down to the details of the rental bid, strip away all of the incentives, inducements, advantages and disadvantages inherent in a traditional lease and say, "What would the rent be today on the open market where the tenant pays the rent, insures and maintains the building and pays rates?"