Valuation Office Provides Additional Information Regarding Revaluation Process

Further to our article in last week’s Newsletter, we had sought additional information regarding the outcomes of previous Revaluations, and whether retail, as a Sector, experienced a disproportionate level of changes to their rateable valuations.

As Covid has affected planned Valuations/Revaluations, the most recent statistics relate to 2019. Covid caused the deferral of Reval 2021, which has been combined with Reval 2023.

In 2019, there were 8 local authorities (LA) that had revaluations, with 66.8%  of ratepayers receiving a reduction in their rates liability after revaluation. According to the Valuation Office, this statistic is similar to that obtained in previous revaluation campaigns.

The Valuation Office considers there to be 4 main categories of rateable property in each LA area, Retail (shops), Offices, Industrial Units and businesses in the hospitality sector (pubs/restaurants and hotels. These categories make up 90% of the base in the 8 counties of Cavan, Louth, Meath, Monaghan, Tipperary, Wicklow and Wexford. The “Other” category is a wide group that includes supermarkets, retail warehouses, cinemas, carparks, service stations,  clubhouses , nursing homes and quarries.

  • The number of properties Valued – 34,007
  • Representations received –   5,035 (14.81%)

There were 1,851 Appeals to the Valuations Tribunal which is 5.44% of the total number of properties valued.

As previously indicated, the overall percentage of those that received a decrease in their Valuation was 66.8%; the Retail Sector closely mirrored this average figure , with a total decrease of 64.15%.

Revaluations 2019

If any members in the LA areas currently undergoing the process wishes to contact us on rating queries, we welcome your call.