Seanad debates

Thursday, 20 November 2014

Valuation (Amendment) (No. 2) Bill 2012: Report and Final Stages

 

11:40 am

Photo of Feargal QuinnFeargal Quinn (Independent) | Oireachtas source

I move amendment No. 2:


In page 6, between lines 21 and 22, to insert the following:"(i) a decrease in profitability of the company located within the relevant property as evidenced by the owner or occupier of the relevant property to the Commissioner through company records (as per the Companies Acts);",".
I welcome the Minister of State to the House. I have never seen a Bill with so many amendments from the Government, so I congratulate him. He gives me a sense that he is listening to us and that the Seanad has a role to play in legislation. This amendment was tabled because the current system only allows a rent review where there is a physical change to a property such as an extension.

There should be a provision to allow all circumstances to be taken on board when seeking a rates review including economic factors effecting a change in value if there is a sharp decline in the profitability of a business. Prevailing economic circumstances should also be taken into account. I hope the Minister of State will take this into account either now or on a later Stage.

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