Oireachtas Joint and Select Committees
Thursday, 25 January 2018
Public Accounts Committee
2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 11: National Property Revaluation Programme
9:00 am
Mr. John O'Sullivan:
Yes, if, for example, a very large premises or new entity was set up in a town, the local authority would list that for revision with us. We would do the revision and that is added to the valuation list. The local authority gets a certain buoyancy from that for its rates and overall budget. As Mr. Lemass indicated earlier, it is different in a revaluation whereby we are doing all of the properties at the same time. There is a specific statutory cap put on the amount, that is, the overall rates take, that the particular local authority can operate in the year immediately after a revaluation. New properties coming on stream have a beneficial effect on the finances of a local authority.