Central Valuation List

What is the “Central Valuation List”?

The Central Valuation List is a list of all global valuations which are the valuations of certain designated public utility undertakings in the State.

Which utilities are currently designated as Public Utility Undertakings?

At present, twelve entities have been designated by the Minister as public utility undertakings for the purposes of the global valuations process, as provided for by section 53 of the Valuation Act. These are:

2RN
BT Communications Ireland Limited
Eircom Limited
Eirgrid
ESB Networks
Gas Networks Ireland
Iarnród Éireann
Irish Water
Meteor Mobile Communications Limited
Three Ireland (Hutchison) Limited
Virgin Media Ireland Limited and
Vodafone Ireland Limited.

In accordance with Sections 53 and 58 of the Valuation Act 2001, as amended, the valuation of each public utility undertaking is apportioned between those rating authorities in whose administrative area property assets of the public utility undertaking are located.

Global Valuation Process

The global valuation process relates solely to the physical network occupied by the particular public utility undertaking and used by it for its principal objects or purposes such as the supply of electricity or gas or the provision of telecommunications services or public transport or water services. These global valuations cover all the physical networks and systems such as pipelines, rail lines, cables, masts, posts, pylons, wires and all other ancillary constructions and buildings which are used by the utility and which are necessary to deliver its service from the point of origin to the consumer.

It is important to note that the global valuation of a public utility undertaking does not include the valuation of other properties such as retail units or offices or industrial space occupied by the undertaking and not used by it for the above purposes. These other properties operated by the public utility are valued separately, outside of the global valuation framework, and in the same manner as similar properties occupied by other businesses.

Global Valuation Cycle

Global valuations of public utility undertakings are carried out on a five-yearly cycle as provided for by section 53(6) of the Valuation Act 2001, as amended by the Valuation (Amendment) Act 2015. The global valuation process is also deployed in other common law jurisdictions and is an efficient mechanism for valuing public utility undertakings with a national or regional network.

Basis of Valuation

The basis of valuation of all rateable property throughout the State is “Net Annual Value”, as defined in section 48 of the Valuation Act. This applies to both public utility undertakings valued on a global basis and conventional rateable properties such as shops, offices and industrial facilities operated by other businesses.

If dissatisfied with the valuation of a public utility undertaking, there is a right of appeal to the Valuation Tribunal which may be exercised by the utility, a rating authority or the Minister for Housing Local Government and Heritage. The Tribunal is an independent body set up for the purpose of hearing appeals against determinations of valuation made by the Head of Valuation. There is a further right of appeal to the Higher Courts on a point of law.

Can I view the Central Valuation List?

Yes, the Central Valuation List is available for inspection at the Tailte Éireann, Valuation Public Office Block 2, Irish Life Centre, Lower Abbey Street, Dublin 1 (Eircode D01 E9X0) between 10am and 4.30pm, Monday to Friday excluding public holidays. An electronic copy of the list is also available.