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Reval 2019

Reval 2019

Information regarding the Reval 2019 process

Published on: 08 Apr 2019

The Revaluation Office will host a walk in clinic on Tuesday 23rd April from 1pm until 7pm in the events space in the library.

 

Valuation Office staff will be present to answer queries relating to the Proposed Valuation Certificates for Reval 2019. They will explain the revaluation process and offer guidance on making representations. No appointment is necessary. Please bring your Proposed Valuation Certificate along with you.

 

In order to calculate your likely rates liability for 2020 you should multiply the Proposed Valuation by the 0.214

Example:              Proposed Valuation €10,000

                             Indicative ARV: 0.214

                             Likely Rates for 2020: €10,000 x 0.214 = €2,140

 

Revaluation is necessary to bring more equity and transparency into the Local Authority rating system and to ensure that all ratepayers pay a fair share of the commercial rates to be raised. Following revaluation, there is a much closer and more uniform relationship between contemporary rental values of property and their commercial rates liability. The revaluation will result in a redistribution of the commercial rates liability between ratepayers depending on the relative shift in the rental values of their properties in relation to each other.

 

Any ratepayer who is dissatisfied with any of the particulars on their PVC can submit representations to the Valuation Office within 40 days from the date of issue of their certificate (both dates will be clearly printed on the PVC). The Valuation Office does not charge a fee for representations. More information about the representations process can be found on the Valuation Office website, www.valoff.ie

 

The amount of commercial rates payable in any year by a business is calculated by multiplying the valuation of the property, known as the Net Annual Value (NAV) by an Annual Rate on Valuation (ARV).

 

The Proposed Valuation provided by the Valuation Office and can be found on your Proposed Valuation Certificate.

 

The ARV is set by the Local Authority and current indications are that the ARV for 2020 could be 0.214 Therefore, in order to calculate your likely rates liability for 2020 you should multiply the Proposed Valuation by the 0.214

Example:              Proposed Valuation €10,000

                             Indicative ARV: 0.214

                             Likely Rates for 2020: €10,000 x 0.214 = €2,140