Jim Walsh (Fianna Fail) | Oireachtas source

This is a fundamental plank in the Bill and I can see the motivation behind Senator Barrett's attempt to deal with the distortions in the market. Valuations of property will vary. Why was there no consideration given to regional guidelines on a square footage cost? In the past, the Department of the Environment, Community and Local Government used to supply certificates of reasonable value which were used to value properties that were sold.

Everyone agrees that it is difficult in the current property cycle to accurately value residential properties. It strikes me that the ¤50,000 band is too narrow in that regard. There should be some consideration for having them wider so that there is greater degree of scope to get the valuation accurately. I agree with Senator Ó Domhnaill on the issue of contingent liability if someone unintentionally misvalues a property.

Does this section contradict section 14? This section deals with the chargeable value and the market value of properties. If someone buys a property six months after the first tax is paid on it, he or she will have to pay that original tax for the following three years when the actual price of the house will be established by the actual sale. That seems a contradiction.