Seanad debates
Friday, 19 December 2008
Finance (No. 2) Bill 2008 (Certified Money Bill): Committee and Remaining Stages
5:00 pm
Paddy Burke (Fine Gael)
That is hearsay. Valuations made a number of years ago were unrealistic. Every Minister knows that. The Revenue Commissioners valued properties two or three years ago and the people have to pay inheritance tax on those valuations. They may have to sell the properties. There is not a hope in hell of them ever selling. In 20 years time these properties may realise their value of three years ago. Those poor people would have to sell those properties to pay the inheritance tax on a valuation that in most cases is probably 100% less than what they were two or three years ago. The Minister of State should look at this in a sympathetic fashion.
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