Property value revision delay

A PROGRAMME to revise the value of all commercial properties for the calculation of local authority rates is unlikely to meet its completion deadline of 2018 despite work starting on the project six years ago.

The head of the Valuation Office admitted that just 26% of the 170,000 commercial properties around the country would be revalued by 2013, even though the project began in 2005.

“It is taking longer than expected,” said the office’s acting chief executive, Dermot Quigley, who also expressed his dissatisfaction with the rate of progress.