Leo Varadkar (Dublin West, Fine Gael)
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Question 96: To ask the Minister for Finance the status of the nationwide revaluation of commercial properties being conducted by the Valuation Office; the timeframe for the completion of a nationwide revaluation; the benefits to a small or medium sized business who are successful in having their commercial property value lowered; and if he will make a statement on the matter. [25343/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I have been advised by the Commissioner of the Valuation Office that the current status of the Revaluation Programme is as follows: · The Valuation list for South Dublin County Council area was published on 31st December 2007. · Certificates with details of the proposed valuations (Proposed Valuation Certificates), have issued in respect of 5070 properties in the Fingal County Council area. The balance (approx. 650) of the Proposed Valuation Certificates will issue in September 2009 and the new Valuation List for Fingal County Council area will be published on 31st December 2009. · The process of Revaluation for Dun Laoghaire Rathdown County Council area is underway and the Proposed Valuation Certificates will issue in June 2010 with the final list being published on 31st December 2010. · The consultative process for the commencement of the Revaluation of Dublin City Council is in train. The estimated timeframe for completion of a nationwide revaluation is 10 years.

In terms of Revaluation, any business which has its valuation for rating purposes lowered relative to that of other rateable properties may experience a reduction in rates liability. However any such reduction will depend on the ARV (Annual Rate on Valuation – formerly Rate in the Pound) which falls to be determined by the relevant Local Authority.