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Revaluation – What is it all about?

Revaluation – What is it all about?

One recent issue that is causing concern for clients is the Proposed Valuation Certs issued from the Valuation office on the 10th of March 2017 as part of a National Revaluation Programme. As O’Neill & Co offer trusted advice on opportunities to reduce business rate liabilities we have put together some frequently asked questions to help you during this time.

What are Commercial Rates?

Commercial rates are charged annually by County Councils and Local Authorities on commercial and industrial properties based on the Rateable Valuation of each individual property.

What is involved in the Revaluation?

On 10th March 2017 Proposed Valuation Certificates were issued to over 90% of ratepayers in Kildare. This Certificate states the “Proposed Valuation” (Net Annual Value) for each property which will come into effect for the year 2018 as part of its on-going programme to revalue all such properties within the State. Rates going forward are based on the revaluation of your property multiplied by the Annual Rate on Valuation (ARV) set by the local authority as part of the budgetary process each year.

What is the Annual Rate on Valuation (ARV) for Kildare?

The indicative ARV for County Kildare for 2018 is 0.24

How do I calculate my rates?

To calculate the indicative commercial rates liabilities for 2018 multiply the Proposed Valuation (Net Annual Value) which you will find on your Proposed Valuation Certificates by 0.24.

(Example 1) – Peter O Brien (fictional business) – Proposed Valuation as advised = €15,790

Estimated Rates Liability for 2018 = €15,790 * 0.24 = €3,789.60

(Example 2) – Mary Murphy (fictional business) – Proposed Valuation as advised = €25,000

Estimated Rates Liability for 2018 = €25,000 * 0.24 = €6,000

Example courtesy of Kildare County Council

What if I am happy with the proposed valuation?

Ratepayers who are satisfied with their proposed valuation do not have to respond to the Valuation Office.

What if I am unhappy with the proposed valuation?

Should you be unhappy with the new proposed valuation certificate you may make representations to the valuation manager up to and including 18th April 2017. The Valuation Office will consider your objections and will issue a final valuation certificate. If you should still have objections to the final certificate you have the right to appeal to the Valuation Tribunal, an independent body set up to settle disputed valuations.

The programme affects all owners of commercial and industrial property. If you are concerned or have question regarding this process, how your rates will be affected and what steps you can take to appeal the new certificate Darac from O’Neill & Co can offer advice in this area. O’Neill & Co provide a specialised rating service should you wish to discuss any aspect, please don’t hesitate to contact us on 045 856604 or visit our web site

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