Firms welcome new valuation list

Business interests in south Dublin have largely welcomed the new valuation list for the area, published by South Dublin County Council yesterday.

South Dublin Chamber of Commerce said most of its members were satisfied with the new rateable values given to their properties by the Valuation Office. Valuation certificates were posted to 6,274 business ratepayers in south Dublin last month.

Chamber chief executive Peter Byrne said retailers in Liffey Valley and other shopping centres were annoyed that the rateable value of their properties had increased in the new list. Businesses in some industrial parks, in particular Greenogue industrial estate, were also dissatisfied and up to 10 per cent of businesses have already appealed their valuation, Mr Byrne said.

South Dublin is the first area in which the revaluation of all commercial, industrial and retail premises has been completed. A national programme to revalue all commercial property is continuing in the Fingal County Council area and will be rolled out nationally later this year.

Although the revaluation will not increase the sums available to local authorities from rates, it will see a "rebalancing" of the rates burden between different locations to reflect changes in property prices.

The Valuation Office says the new list will bring more equity, fairness and transparency. There will be a closer relationship between the current rental values of property and their liability for commercial rates.