Galway city councillor calls on minister to consider annual valuations on vacant sites
Fiánna Fail Galway city councillor Alan Cheevers has called on the housing and local government minister to consider revising the valuation period for vacant sites.
Current legislation calls for a valuation, an estimation of a property’s worth, every five years on sites that are considered vacant.
Cllr Cheevers does not see the current legislation as “sufficient” when an annual valuation would bring in “another revenue stream” to the local authority and get “sites moving quicker” in Galway.
Vacant sites can be defined under two categories. The first as a residential area where there is a need for housing and the site presents suitable to build on. Secondly, is land that remains vacant and is negatively affecting the existing amenities surrounding the area.
The GeoDirectory report for Q4 of 2024 showed the Connacht region with the highest vacancy rates (9.2pc), and Galway carried a majority of that figure with a vacancy rate of 5.2pc. In late November 2024 over 800 sites were labelled as vacant, or vacant and derelict, throughout the county.
“If there were valuations run every year, we would have more up to date valuations, number one, and number two we would be creating more revenue into the coffers for the local authority. Thirdly, it might expedite the owners of sites to do something with them.”
The current levy rate is 7 per cent, which is payable retrospectively, of a site’s market value. An example given to show the inconsistency with the five-year schedule is the ever-fluctuating worth of properties year-to-year. What was €3 million five years ago, does not cost €3 million today and therefore the levy will have been applied only to a certain time period rather than flow with the market.
If properties were reviewed every 12 months, then “it gives an even playing field” to both the council and the landowner.
“We probably have sites at the moment that are way undervalued from what they should be because they haven’t been done in five years.” Cllr Cheevers added.
“It makes it fair for them, the owners, and it makes it fair for the council. If the council is going to lose out, that’s fine because it might drop in value but the other side of it is, over a four-year period every year it could increase in value, therefore we could create more revenue for our annual budget.”
Cllr Cheevers believes the next valuation will occur this September.