Delivering Valuation Services in Changing Times

Challenges & Opportunities

John O’SullivanCommissioner of Valuation and CEO, Valuation Office

20th June 2013

Valuation Office

• Ireland’s State Valuation Agency

• Rating Authorities and Non-domestic Rates

• No. of Staff: 130

• Operating Budget 2013: €9 million

Valuation System in Context• Rates: Tax on occupation of non-domestic

property

• Contributes c. €1.3 billion per annum towards funding Local Authorities

• Based on Rental Values

• Challenges: – Evidence-based process– Pace of revaluation

Key Organisational Drivers for VO

Revaluation – Public Policy Objectives

• Equity and Uniformity• Transparency – reflect current market rental

values• Independent and objective outcomes• Redistribution of rates liability• Rolling revaluation: every 5-10 years• Government’s Action Plan for Jobs 2012

Challenges

• Market Activity• Complexity of modern rental arrangements• Expectation of Ratepayers• Pace of Revaluation

How are we changing?• Strong partnerships with representative bodies and

professional agents• Providing more and better information to Ratepayers• Increasing public understanding of what we do

• Adopting more standardised processes• Engaging with peer organisations in other jurisdictions

• Harnessing Web to interact with customers• Better range of internal ICT analysis & support tools

People, Processes & Technology

• Better use of staff resources• Improved business processes– Better data collection techniques– Data Analysis

• Broadening online service offering• Use of external datasets• Harnessing mobile technology• New Legislation

Valuation (Amendment) (No. 2) Bill 2012

• Accelerate the National Revaluation Programme– Improve VO operations– Provide for additional valuation approaches:

– Self Assessment– Contracting External Valuation Services (Outsourcing) and– Better use of ICT and Statistical Resources

Improving Internal VO processes

• Better use of Statistics & Market Data

• Augments current valuation approaches

• Combining Professional Valuer core skills with statistical analysis of physical and market data and spatial information databases

Valuation: Multi-faceted approach

• Conversion & Interpretation of historical data• Central Market Analysis Unit in operation• Extensive database of recorded market

transactions• Electronic Market Analysis System in place• ICT-supported valuation processes extended• New skills for valuers

Making it Happen• Market Analysis Database

• Market Analysis Modelling tools

• Statistically-informed comparisons

• Validation using third-party datasets

• Geographical Information Systems (GIS) & Spatial Analysis tools

• Mobile apps

Other Developments

• Merger of VO with PRA and OSi

• Integrated Data Model

• Shared Services: Technical Infrastructures

• Priority: ICT Disaster Recovery/Business Continuity capability

• ISDI

Conclusions

• People – Process – Technology

• Not about Technology.......it’s about Delivering Services!