Patrick O'Donovan (Limerick, Fine Gael)
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To ask the Minister for Public Expenditure and Reform when he hopes to bring forward a new Valuation Bill in an effort to support small businesses; and if he will make a statement on the matter. [38731/12]

Brendan Howlin (Wexford, Labour)
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The Valuation (Amendment) (No. 2) Bill 2012 was published on 3 August, 2012. The primary purpose of the Bill is to introduce amendments to the legislation which underpins the rateable valuation system on which commercial rates are collected. The proposed amendments to the Valuation Act 2001 are designed to accelerate the valuation process and to streamline the appeal procedures available to ratepayers. As part of the efforts to accelerate the revaluation process the legislation will also provide the legislative basis for carrying out a revaluation based on self-assessment by ratepayers and also for the external delivery of elements of the valuation process.

The revaluation programme aims to provide up-to-date valuations for individual properties across all economic sectors that are subject to local authority rates. It is an important programme, especially given the significant changes in rental values following the economic downturn of recent years. The revaluation process is the mechanism whereby economic changes that take place in the property market are reflected in the valuation lists for rates purposes and in individual ratepayers' rates liabilities. Information in relation to the revaluation process is published on the Valuation Office website www.valoff.ie