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