The purpose of a revaluation is to bring more equity, uniformity, fairness and transparency into the local authority rating system. Following revaluation there will be a much closer relationship between the rental value or valuation of a property and its commercial rates liability.
The new valuatons will come into effect for rating purposes from 2018. Final Valuaton Certificates have now issued to all Ratepayers in Westmeath.
An estimate of your rates liability for 2018 can be computed as follows :
A. Take the value set out in the Final Valuation Certificate received from the Valuation Office (e.g. €15,000)
B. Take the indicative Annual Rate on Valuation (ARV) for 2018 of 0.185
C. Multiply A x B giving your estimated rates liability for 2018 (e.g. €15,000 x 0.185 = €2,775)
It should be noted that the ARV is indicative only. It is based on the total value of new valuations for Westmeath, as calculated and advised by the Valuation Office in September 2017. This indicative ARV is subject to change and will be determined at our Budget meeting on 27th November 2017.
The Valuation Office will be holding ‘Walk-in Clinics’ in the County Buildings, Mullingar, as follows:
Tuesday 26th Sept from 10.30am – 4.30pm and Wednesday 27th Sept from 9.30am – 4.30pm
There is further information on revaluation available on the Valuation Office website www.valoff.ie. You can also email specific queries to Reval2017@valoff.ie or by telephone on 01-817 1033 or LoCall:1890 531 431