One of Ireland’s leading rating consultants has alerted business owners and landlords of the need to prioritise the assessment of new rating valuations that are to be issued to them on December 23rd.
The revaluations are part of a national programme to revalue all commercial property in Ireland arising from The Valuation Act, 2001 – the first comprehensive review of rating legislation and valuation law in Ireland for 150 years.
Ratepayers in Dublin city and Waterford are awaiting final valuation certificates from the Valuation Office either affirming or revising the valuations proposed as far back as October 2012.
Siobhán Murphy, associate director of GVA Donal O’Buachalla said: “Substantial rates increases, payable in 2014, are due to be confirmed for many businesses in less than three weeks’ time. While the 25,000 ratepayers affected by the revaluation have an opportunity to submit a first appeal contesting the valuation issued if they still believe it to be unfair, the possible appeal date falls in mid-late January.
"There has to be serious concern that such a large volume of certificates being added to the usual Christmas post frenzy, coupled with what is one of the busiest trading periods, will lead to missed appeal deadlines.
'Uncertainty'
"The progress of the revaluation has been complicated also by uncertainty over proposed changes in legislation. An amendment to the Valuation Act, 2001, was introduced to the Oireachtas last year which proposed changes to the revaluations appeals process and specifically to the stages and place of appeal, the time allowed for and the cost of an appeal. That Bill has yet to reach
committee stage in the Seanad and now looks increasingly unlikely to be passed before year end.”
“If an appeal is not made, the valuation on the certificate could be immutable until the next revaluation, which is at least five to 10 years away. It is imperative therefore those ratepayers are aware of the impending issue of final valuation certificates and take necessary action. Otherwise, they may find themselves burdened with a fixed overhead for the foreseeable future.”
Ms Murphy added:"The ongoing revaluation process following the provisions of the 2001 Act is a huge task stretching through each local authority region.
'Strain on resources'
“The Dublin revaluation, however, is
four times larger than other revaluations and is a serious strain on the resources of the Valuation Office which is subject to the cutbacks that are in evidence across the public service. We are urging all business owners to ensure they give priority to the revaluation certificate, that they chase it up if they don’t receive it in a timely fashion and that they take advice if they are not happy with the valuation they receive.”
