Property Rates

The Brief

Our brief was to review, assess and advise on the rateable valuation assessments by the Valuation Office on the Bank’s premises in the Fingal Local Authority Area. We were instructed to represent the Bank in the rateable valuation process and achieve reductions where possible. 

The Client

Bank of Ireland.

Our Solution

We firstly inspected the properties and made initial assessments as to whether we believed the valuation being proposed by the Valuation Office was fair, and whether or not it should be challenged.

Where we believed the proposed rateable valuations to be high or we seen an opportunity to have an existing rateable valuation reduced, we advised and represented the Bank throughout every stage of the rating process, to include:

•  Making representations.
•  Negotiating with the Valuation Office.
•  Lodging appeals (if required).
•  Preparing submissions (if required).
•  Representing the Bank before the Valuation Tribunal (if required).
•  In addition we also offered advice regarding rates rebates for vacant buildings (and buildings which may have been becoming vacant)

How We Added Value

We achieved considerable savings on behalf of Bank of Ireland on their rates liabilities. The savings are annual until the next revaluation takes place in Fingal, which may be between 5 and 10 years.
We were successful in achieving savings for the Bank for a number of reasons principally;

•  Our expertise in the area of rateable valuations and the rateable valuation process.
•  Inspecting the properties, familiarising ourselves with all aspects of the subject properties, and considering carefully all matters relevant to the rateable valuation of each property, before providing our initial assessment and advice, and challenging the valuation where appropriate.
•  Our extensive database of market information on sales and lettings as at the relevant valuation date, built up to assist us in the revaluation process.