Valuation information main content
Revaluation Customer Info: |
| Why is a Revaluation taking place? |
| How will the Revaluation be done? |
| Can I appeal against my valuation? |
| Will my commercial rates liability increase after revaluation? |
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Why is Revaluation taking place? |
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Property values have shifted significantly in recent times and a revaluation is necessary to ensure that all ratepayers pay a fair share of the commercial rates to be raised.
The purpose of a revaluation is to bring more equity and fairness to the local authority rating system. Following the revaluation there will be a much closer and uniform relationship between the current rental values of property and their commercial rate liability.
A revaluation will result in a redistribution of the commercial rates liability between ratepayers in a rating authority area based on current rental values. |
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How will the Revaluation be done?
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| A valuer from the Revaluation Unit of the Valuation Office will visit your property. You will be notified in advance of this visit and the valuer will carry ID.
The valuer will assess the value of your property and set a valuation in line with current rental values.
When the revaluation in your local authority area is complete, the Valuation Office will send you a proposed valuation certificate, which will include your proposed valuation and other details of your property. You will also receive a form on which you may make representations if you are unhappy with the proposed valuation or other details in the certificate.
Following consideration of your representations the Valuation Office will send you a final valuation certificate, which will form the basis of the commercial rates to be levied on your property by the local authority |
Can I appeal against my valuation?
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You can appeal against the valuation and other details contained in the FINAL valuation certificate to the Commissioner of Valuation within 40 days of the publication of a new valuation list.
The closing date for appeals to the Commissioner of Valuation arising from the South Dublin County Council revaluation will be 8th February 2008.
The commissioner of Valuation will consider your appeal and make a decision within 6 months of receiving the appeal.
If you are unhappy with the Commissioner’s decision on your appeal there is a further right of appeal to the Valuation Tribunal. The Tribunal is an independent body set up to settle disputed valuations between the Commissioner of Valuation and ratepayers or local authorities.
The decision of the Valuation Tribunal is final on the amount of the valuation. There is a further right of appeal to the High Court and ultimately to the Supreme Court on a point of law. |
| Will the Revaluation increase my commercial rates liability?
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The purpose of a revaluation is not to increase the total amount of commercial rates collected by local authorities but to provide for an equitable redistribution of commercial rates between ratepayers.
Any increase in the total amount of commercial rates collected in the year following a revaluation will be limited to inflation. However there will be a redistribution of the commercial rates burden between ratepayers depending on the relative shift in rental values between locations and categories of properties.
Your property's valuation will be brought into line with current rental values. The current rateable valuation of your property bears no resemblance to its rental value so like all other commercial properties the valuation on your property will go up to reflect this change.
However, the purpose of revaluation is not to increase the total amount of commercial rates collected by the local authority, so the ARV set by the local authority will be significantly reduced after the revaluation.
To establish the amount of commercial rates to be paid on your property, the rateable valuation (RV) is multiplied by the annual rate on valuation (ARV) set by the local authority.
For example, take a hypothetical property with a current rateable valuation (RV) of € 100 and a market rent of € 40.000. After revaluation the valuation will be € 40.000, but the ARV set by the local authority will fall correspondingly to take account of the move to market rental values as the figures below show:
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| Property before revaluation:
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| Rateable valuation: |
€100 |
| ARV 70 |
70 |
Commercial Rates Liability |
€7,000 |
(€ 100 X 70) |
Property after revaluation : |
| Valuation |
€40.000 |
| ARV |
0.175 |
| Commercial Rates Liability |
€7,000 |
(€40.000 x 0.175) |
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