Paul Connaughton Snr (Galway East, Fine Gael)

This could turn out to be a very serious matter. Over the years, there have been many good debates and robust exchanges on the valuation of farms. There is no exact science in this regard. Normally, the Valuation Office would have the average prices that were paid either for buildings, houses or lands in various areas throughout the country. The problem is that there is always a much higher price above and beyond the level that normally pertains in the area. That is one of the reasons I have always thought this could become problematic. I find it difficult to understand why there is no independent appeals mechanism in this area. People who have spent a lifetime doing land valuation find it extremely difficult. Basically, we are talking about the concept of an open market price. The price achieved at an auction depends on who is bidding. Variations in the number of bidders can make a difference of between €30,000 and €60,000 in the price achieved for two houses of the same size and in similar locations. Who is to say what is the right market valuation? There is a huge issue here. I do not think the measure being presented by the Minister of State will work in these circumstances. We need a means of referring back to some type of independent valuation system. It is obvious that the proposed measure could lead to court proceedings. Of all the matters about which we have spoken, the question of valuations is the most likely to be contested in a court of law. In light of the complexity of this issue, I am surprised the Minister of State has not seen fit to provide for an independent assessment. As this is a very complex matter, it might be advisable to provide for some sort of tribunal where all of these issues could be taken into account.

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