Joan Burton (Dublin West, Labour)

Land involved in Seveso type activities may have changed hands several times or a canny developer may have passed it through several companies. It may well be that two years ago the value of this dockland site was potentially very high. Some time later, such as now and into the future, the market value, as I understand it, will have plummeted. How is market value categorised? Is it open market value or fair price at the date or going forward? Is it fair price at arm's length between a willing buyer and seller as determined by an independent arbitrator? Is it a built-up market value? If we go back to market values of some years ago, they would be far higher.

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