The Valuation Office is currently undertaking a revaluation of commercial and industrial properties around the country. At present Waterford city and county are undergoing revaluations. The results of the revaluation are causing real and serious concerns especially among the retail sector in Waterford city, Dungarvan and the county towns. Retail businesses are already struggling and they are seeing their rates valuation rise from between 100% and 300%. It could not happen at a worse possible time.

Is legislation promised?

Yes, the relevant legislation is the Valuation (Amendment) (No. 2) Bill 2012. When could we expect to see the Bill before the Dáil because it is important that there is an opportunity for Members to voice their concerns and address the genuine concerns facing retail businesses in Waterford and around the country?

I thank Deputy Coffey for raising the matter. I got it very much on the ground when I was coming back from Waterford last weekend when I stopped at a bike shop in Dungarvan and I was met by the owner. I was innocently buying something for my bike and he made some strong comments about a recent letter he had received on rates.

The Valuation (Amendment) (No. 2) Bill is currently on Committee Stage in the Seanad. Amendments are being worked on and it is hoped that the Bill will be completed in the Seanad by the end of this session and we will see it in this House in the autumn. The Bill must go through the Seanad process first and then it will come into the Dáil.