Barry Andrews (Dún Laoghaire, Fianna Fail)
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Question 220: To ask the Minister for Finance if he will amend section 28 (4) of the Valuation Act 2001 which requires that a material change must have occurred to allow a revision of valuation in order that properties can obtain more realistic valuations that would in many cases allows a ground rent to be bought. [2950/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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There is already provision under section 67 of the Valuation Act 2001, with regard to legislation predating the 2001 Act where rateable valuations are required, for the commissioner to cause a valuation to be made and a certificate to issue so as to satisfy the provisions of this precedent legislation. Section 67 relates to properties that fall within Schedule 4 — domestic properties.

Section 28 of the Valuation Act 2001 applies to legislation allowing for the purchase of ground rents and would not apply, so the question of material change of circumstances does not arise.