Valuation information main content
If you are located in the Waterford area and have received an S45 Revaluation Information form we would
encourage you to fill it in on line as it would be a great help to the office.
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Click here to fill in your Revaluation information Form
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The Valuation Office is the State property valuation agency responsible for the valuation of all commercial property
for the purposes of the calculation of commercial rates by local authorities
Under the Valuation Act of 2001, provision was made for a revaluation of all commercial and industrial property in Ireland. This process began in late 2005 in the local authority area of South Dublin County Council and is now continuing on a phased basis in other local authority areas. The Limerick area is the next area to be revalued and work began in March 2012. A list of the areas under Revaluation Order can be viewed by clicking the link below.
Areas Under Revaluation Order
A revaluation is the production of an up-to-date Valuation List of all commercial and industrial property, within a local authority area, by reference to property rental values at a particular date.
The purpose of a revaluation is to bring more equity and fairness to the local
authority rating system. Following a revaluation there will be a much closer
and uniform relationship between the rental values of properties and their commercial rates
liability.
Commercial rates are an annual property tax levied by local authorities on the
occupiers of commercial and industrial property. Local authorities levy commercial
rates on the basis of valuations provided to them by the Valuation Office.
The valuation of a property is based on its annual rental value at the date of
valuation. This is multiplied by the annual rate on valuation (ARV) to give the
amount of commercial rates payable per annum. An ARV is determined each year
by the local authority as part of the annual budget process. |
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