Simon Harris (Wicklow, Fine Gael) | Oireachtas source

I move: "That the Bill be now read a Second Time."

I am pleased to have this opportunity to bring the Valuation (Amendment) (No. 2) Bill 2012, which was initiated in the Seanad, to this House. The primary purpose of the Bill is to introduce measures that will enable the Commissioner of Valuation to accelerate the national programme of revaluation of all commercial and industrial properties across the State. The Bill makes important changes to the Valuation Act 2001 which will update the legislation in light of the experience of the operation of the Bill since its commencement in 2002. The Bill also extends exemptions from rates to not-for-profit child care providers and community sports clubs.

The Bill was initiated in the Seanad and, while Deputies can legitimately say it has taken a long time to reach this stage, significant work was done at official level, in consultation with industry stakeholders, and in the Seanad, to iron out issues in what is quite a technical piece of legislation. The issues raised on Second Stage in the Seanad were worked on by officials in consultation with stakeholders and resulted in a large number of Committee Stage amendments. We had a very good Committee Stage in Seanad Éireann. I wish to acknowledge the input of the Society of Chartered Surveyors Ireland, which is the main representative body for the valuation surveying profession, and other stakeholders. This work was built on during the Seanad debate on the Committee Stage amendments, which led to further refinements on Report Stage. The Bill was rigorously tested in the three Committee Stage sessions in the Seanad and all sides agreed that the Bill as passed by the Seanad is an improved piece of legislation that took on board the input of both stakeholders and members of the Seanad. I acknowledge their constructive input to the legislation.

The existing valuation legislation is primarily contained in the Valuation Act 2001, which provides for the valuation of all fixed property, including land and buildings. Valued also is incorporeal property, defined as property with no physical existence, such as tolls, easements, fishery rights and other rights over property. The commercial and industrial sectors effectively constitute the rateable valuation base. The Valuation Office has responsibility for implementing and maintaining the valuation system. As Members are aware, it is the value assigned to a property by the Valuation Office multiplied by the annual rate on valuation, set by the local authority at its budgetary meeting each year, which determines the rates amount due from individual occupiers.

Could I ask whether the script has been circulated? I ask my officials to arrange for the script to be circulated. We will make those arrangements now. I apologise to the House.

See this speech in context