Rating changes will be fairer

THE origins of rating assessment on property dates back to 1826 when Griffiths Primary Valuation Act was passed, allowing for a uniform valuation of all property throughout Ireland and the introduction of payment of rates stems from the Valuation Act (Ireland) 1854.

Under the existing system the rate payer has little or no knowledge or clear understanding of how the assessment is arrived at. The system, being based on 1988 rental values, is very much to the advantage of the Valuation Office as they have a wealth of information on values pertaining to that date. However, the typical rate payer has no insight or information of rental levels relating to 24 years ago.

All this is about to change under the provisions of a new rating system introduced by the 2001 Valuation Act which allows for a blanket reassessment of all rateable commercial premises within the 26 counties. The Act’s introduction allows for a simple calculation, with the added intention of removing many anomalies which have crept into the system over the years.