Journal of Valuation Tribunal Judgments, Volume 2. By Desmond M. Killen and Brendan Williams. Institute of Public Administration, Dublin. 434pp. £150/€190.46

Desmond Killen, valuation and rating consultant, and Brendan Williams, Research Fellow and Lecturer, have given us another attractive guide to the law on property valuation. Their first volume in 1996 summarised judgments of the Valuation Tribunal from its inception in 1988 to June 1994. The second volume covers the period July, 1996, to December, 1998. A CD-ROM for the two volumes combined will be available shortly.

The Valuation Tribunal was established in 1988 to adjudicate on appeals from decisions of the Commissioner of Valuation - previously such appeals were heard by the circuit court. The authors present the tribunal judgements in a very accessible form - a concise summary of each case (generally one page) with a separate index for name of appellant, for property type and for keywords, which help to identify the questions at issue in each appeal.

The valuation of property for rating purposes dates from the 1820s and rates revenue continues to make a significant contribution to the finances of local authorities - £415m. or 25 per cent of their current income in 1999. The rateable valuation of any property is based on the net annual value, a concept which was defined in the foundation acts as the rent payable from year to year by a hypothetical tenant who would also bear the cost of repairs, maintenance and rates. If rental information as such is not readily available, proxies are used such as the contractors' basis related to capital cost or the profits method related to profit earning capacity. The theory is that figures are derived from such computations can determine the rent which a tenant would be willing to pay.

The cases listed in the Journal reflect the variety and scale of activity in the economy, typical properties under appeal being industrial premises, shops, offices, banks, hotels, licensed premises and sports centres. Legal points at issue include the validity of comparable rental values, valuation methodology, the assessment of profits and capital values, trade fluctuations as in tourist areas, the relevance of location on profitability and the impact of designated area status on contiguous properties. There are also many claims for exemption from rating on charitable, religious worship or education grounds.

The Journal can be readily recommended as a convenient source book for the busy practitioner whether property consultant or lawyer. It will be of immense help to the policy makers, particularly to officials engaged in preparing the major consolidation bill, which is expected shortly. They can draw on Tribunal judgements for guidance on areas where statutes have to be amended to clarify the law, eliminate anomalies or close loopholes. No doubt copies of the Journal will also be placed in the Oireachtas library to encourage constructive debate on the forthcoming legislation.

Tom O'Connor is a former Commissioner of Valuation and lectures on public administration