Jim O'Keeffe (Cork South West, Fine Gael)
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Question 176: To ask the Minister for Finance the capital value of the property portfolio of the Office of Public Works for the year 2009; the basis on which this has been computed; and if he will make a statement on the matter. [24651/10]

Martin Mansergh (Tipperary South, Fianna Fail)
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For the major part of the portfolio, valuation estimates are based on building cost norms, and standard land values have been used.

Prestige buildings included in the valuation, such as Dublin Castle, Leinster House and the National Gallery, are valued differently, given their unique status.

The capital value of the property portfolio of the Office of Public Works as attributed for the purpose of the Appropriation Account, at 31 December 2009 was approximately €3.2 billion.

Properties under the State ownership of other Ministers, for example certain heritage properties, including national monument properties, are excluded from the valuation.