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Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: What are the constraints under which the office operates in terms of valuing and retail? I ask Mr. Lavelle to consider the person on O'Connell Street, William Street, Patrick Street or Roche's Street; if I omit some streets I will be killed. Mr. Lavelle is nodding his head; I have no doubt he is familiar with Limerick city. I am talking about the spine of the city, which runs from...

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: When Mr. Lavelle talks about Limerick he is referring to Limerick city and county.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: The differential in the rate.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: Does Mr. Lavelle have it within his scope to allow some leeway for people who have continued, through difficult times, to remain in the heart of the city? Many businesses have closed. Does he have any scope in that way to-----

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: Why not?

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: In that particular case there may be someone on a street who signed an upward-only rent review.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: Two buildings may be located side by side and one of them may come up for rent today, but the rental values have fallen even in the past 12 months. Does Mr. Lavelle understand the point I am making?

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: For instance, properties are now being let in the heart of the city where people are renting for six months of the year.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: Does Mr. Lavelle regard that as open market value? The rents are lower than would typically have applied under the old upward-only rent agreements.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: In terms of the process under way, can people who are in retail properties, or any property, engage with the office?

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: There is an ongoing dialogue.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: Okay.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: That will be in March 2014.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: Will they come out simultaneously or piecemeal?

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: What will be the earliest time they will issue?

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: Of next year.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: March 2014.

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: Do the witnesses understand my point? I am trying to ascertain whether there are measures such as changes in legislation, procedures or whatever that would give the Valuation Office latitude to factor in the point that these businesses-----

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: If the Valuation Office gets details about a property being sold from, for example, the Revenue website, what typically is the rental return factored in by the office? Is it 8%? Obviously, it will take into account a number of factors to come up with what is a rental value but typically, what does the office regard as being the return? From my recollection, the traditional, historical...

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 15 - Valuation Office
(18 Jul 2013)

Kieran O'Donnell: Okay.

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