Tuesday, 28 June 2011
Department of Finance
Commercial Property Valuations
Question 97: To ask the Minister for Finance the progress made to date with the revaluation programme currently being carried out by the Valuation Office; when he expects the nationwide revaluation programme to be completed; when he expects commercial and industrial properties in the Cork City and county areas to be subject to revaluation; and if he will make a statement on the matter. [17176/11]
The Valuation Act 2001 which came into effect on 2nd May, 2002, provides for the revaluation of all commercial and industrial property. The Commissioner of Valuation has sole responsibility for all valuation matters under the Valuation Act 2001, which includes the implementation of the revaluation programme on a nationwide basis.
The revaluation programme began in November 2005 in the South Dublin County Council area and has since been rolled out to the areas covered by Fingal and DÃºn Laoghaire-Rathdown County Councils. The revaluation of South Dublin was completed in December 2007, Fingal was completed in 2009 and DÃºn Laoghaire-Rathdown was completed in 2010. The revaluation of the Dublin City Council area commenced with the signing of the valuation order on 5th May, 2011. This will entail the valuation of circa 25,000 properties and the new list will be published in December 2013.
It is intended to roll out the programme to further local authority areas as soon as possible. The necessary process of consultation, as provided for under the Act, is under way with the local authorities of Waterford, i.e. Waterford City and County Council and Dungarvan Town Council. Preliminary work is also underway on the revaluation of Limerick City.
It is not possible to say at present when revaluation will commence in Cork City and County or when the national programme will be completed. A time frame of 10 years overall had been envisaged, but progress has been slower than expected, and the position has been complicated further by the difficult conditions in the property market in recent years. Nevertheless, the launch of the major project in Dublin City is a significant advance and the Commissioner has indicated that he is actively reviewing options which might hold potential for accelerating the delivery of the revaluation programme.
Question 98: To ask the Minister for Finance the progress made in reviewing various provisions of the Valuation Act 2001 to achieve greater efficiencies in the valuation procedure; the progress made by the Commissioner of Valuation in reviewing options which might accelerate the delivery of the revaluation programme within a shorter timeframe; and if he will make a statement on the matter. [17177/11]
The review work mentioned by the Deputy is continuing in my Department and the Valuation Office and is making progress. As previously mentioned, the Commissioner is actively reviewing options which might hold potential for accelerating the delivery of the revaluation programme within a shorter timeframe. As mentioned in answer to recent questions, in this context, my officials are reviewing various provisions of the Act to achieve greater efficiencies, including streamlining the appeals process.