Your reval questions answered...

Q. What is a Revaluation

Revaluation is a process by which all rateable properties in a local authority area are valued periodically, and at the same time, by reference to a single valuation date. After the first revaluation of a local authority area is completed, revaluation is then scheduled to take place every five to ten years on a recurring basis, in order to take account of changes in economic circumstances since the last revaluation took place.

Thereafter your valuation is fixed for up to 10 years unless a ‘material change of circumstance’ (MCC) occurs.

Q. When will my county be revalued?

The current phase of the programme is known as “Reval 2019”. This phase (which commenced in late 2017 and will conclude in September 2019) will result in the revaluation of commercial and industrial properties in Cavan, Louth, Meath, Monaghan, Tipperary, Wexford and Wicklow County Councils. The Fingal County Council area will also undergo a second Revaluation having initially been the subject of a Revaluation in 2009.

Proposed valuation certificates issue on Friday 15th March 2019.

Q. How will the Revaluation be carried out?

A Valuation Manager appointed by the Commissioner of Valuation assesses the Net Annual Value of your property and sets a valuation in line with rental values at the specified valuation date. The Valuation Office carries out its functions in an independent and objective manner. Extensive analysis of rental information is carried out. This rental information is available through multiple market sources, together with the information provided by the occupiers in relation to their own individual properties.

Q. Is the valuation of my property the same as my rates bill?

No. Your valuation is the basis on which local authorities calculate and levy rates on your property but is not your rates liability. Your rates liability is a product of your valuation, multiplied by the Annual Rate on Valuation (ARV) which is set by the local authority.

Q. What if I am dissatisfied with my valuation?

When the revaluation in your local authority area is complete, the Valuation Office will send you a proposed valuation certificate which will show the details and the valuation proposed for your property. You will have an opportunity to make representations (within 40 days from the date of issue of the proposed certificate) if you are unhappy with anything contained in the proposed valuation certificate. Following consideration of your representations, the Valuation Office will send you a final valuation certificate. This will be the basis for the commercial rates that will be levied on your property by the local authority from 2019 onwards.

Q. What should I do if my rates liability decreases?

It is important to check how the valuation was arrived at by the Valuation Office. Further reductions may be warranted and awarded following successful representations and appeal.

Q. Is there a further appeal process?

Yes. If you are dissatisfied with the outcome of your representations to the Valuation Office, there is a right of appeal to the Valuation Tribunal, an independent body set up to settle disputed valuations between the Valuation Office and ratepayers or local authorities.

GVA have a team of rating specialists experienced in challenging the Commissioner of Valuation and presenting evidence on your behalf to the Valuation Tribunal.

Q. Is the decision of the Valuation Tribunal final?

A decision of the Valuation Tribunal is final in relation to the amount of the valuation. However, there is a further right of appeal to the High Court on a point of law.

Q. When will my new valuation come into effect?

If you are a ratepayer in Cavan, Fingal, Louth, Meath, Monaghan, Tipperary, Wexford or Wicklow the new valuations will become effective for rates purposes for 2020 and subsequent years.

Q. Who should I contact for further information?

GVA Donal O’Buachalla provide rating services to an extensive list of clients and are one of the leading companies in this sector since 1954.