Re-Evaluation of rateable properties in laois

The Valuation Office is conducting a revaluation of all 2,000 or so rateable properties in County Laois.

This revaluation is part of a national programme to modernise the rateable valuation of all commercial and industrial property in Ireland.

The revaluation will take account of contemporary rental values in the local authority area and will result in a more equitable distribution of commercial rates among ratepayers.

Following revaluation, there will be a much closer and uniform relationship between the current annual rental values of commercial properties and their commercial rates liability.

The revaluation will not increase the total rates revenue raised by Laois County Council.

Part 5A of the Valuation Act 2001 (as amended) allows a revaluation to be conducted using elements of self-assessment known as “Occupier Assisted Valuation”.

This is where the occupier of a commercial property is required to submit a valuation on their property for rating purposes to the Valuation Office.

On 26th February the Valuation Office will commence issuing Notices to Laois ratepayers, requiring each ratepayer to complete and return a Valuation Submission Form to the Valuation Office on or before 16th April.

The Valuation Office will provide extensive information and supports to ratepayers during this period including briefings, ‘walk in’ clinics and instructional videos – more information is available on our website at www.valoff.ie.

‘Walk In’ Clinics will be held in Laois County Council offices, Áras an Chontae, JFL Avenue, Portlaoise from 9am to 5pm on the following dates:

Tuesdays: 20th March and 3rd April.

‘Walk in’ Clinics will also be held from 9am to 5pm in Rathdowney Library, Mill Road, Rathdowney and Laois County Council Offices (Old Area Office), Sleaty Road, Graiguecullen, on the 26th March.

Ratepayers are welcome to attend the clinic on any of these dates and meet Valuation Office officials.

No appointment is necessary.

Additional dates and venues may be added and updates will be made available on www.valoff.ie.

BACKGROUND INFORMATION

The Valuation Office is the State property valuation organisation and is independent in carrying out its functions.

Its core business is the valuation of commercial property for rating purposes. Rates are imposed by local authorities by reference to the rateable value of each property as determined by the Valuation Office (or, on appeal, by the Valuation Tribunal).

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.

The ARV is set each year by each local authority.

Revaluation will lead to a redistribution of the commercial rates burden between ratepayers depending on the relative shift in rental values between locations and categories of properties.

The outcome of a revaluation is based on contemporary market information and other evidence collected and analysed by the Valuation Office.

An occupier can appeal against a valuation to the Valuation Tribunal, an independent body set up to settle disputed valuations. The decision of the Valuation Tribunal is final on the amount of valuation.

There is a further right of appeal to the High Court and ultimately the Supreme Court on a point of law.